MTS Bank has resumed preparations for an IPO in 2024 – Kommersant
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MTS Bank is considering an IPO in 2024, they reported RBC two sources in the financial market. Previously the founder of AFK Sistema (MOEX: AFKS; the corporation owns 42.09% of MTS) Vladimir Evtushenkov doubted in the possibility of a public offering this year.
According to an RBC source, we are talking about bringing a minority share of the bank to the market “if there is a window.” He noted that MTS Bank has recorded potential demand from retail investors. However, a consultant for the transaction has not yet been selected. Another source said that the bank has resumed preparations for the IPO due to the “awakening of the market.”
In 2021, it was reported about a possible IPO of MTS Bank, the potential placement volume was then estimated at $1 billion. At the beginning of 2023, the head of MTS Vyacheslav Nikolaev said that the bank abandoned its plans because the market is not suitable for this now. In February 2023, MTS Bank was included in the US and UK sanctions list. All bank assets located in the jurisdictions of these countries were blocked.
In December 2023, Sovcombank became the first Russian bank in the last eight years spent IPO on Moscow Exchange. As a result, the bank attracted RUB 11.5 billion A total of 1 billion shares were placed. The share of individuals in the placement was approximately 65%, institutional investors – about 35%.
Read more in the Kommersant article. “Sovcombank has completed advertising placement”.
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