VTB disclosed the state’s share in its capital – Kommersant
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VTB raised 94 billion rubles in the second additional issue, Dmitry Pyanov, deputy chairman of the board of the bank, said. Based on the results of the placement of securities, the government’s stake in VTB’s capital will decrease from 76.4% to 61.8%.
“We proceed from the fact that we have either already paid, or by the pre-emptive right, payment by June 8 will be made in the amount of an additional issue of 94 billion rubles. We hope to register this additional issue with the Central Bank within June and recognize this additional issue in our accounting and regulatory capital. Accordingly, as a result of this additional issue, the state’s share will change downwards,” Mr. Pyanov said during a conference call.
As Dmitry Pyanov clarified, at the beginning of 2023, the state’s share in the capital of VTB was 60.9%. Later, as part of the state additional issue, it increased to 76.4%. However, as a result of registration of the second additional issue, it will decrease again to 61.8%. In total, as a result of two additional issues, the bank raised 243 billion rubles.
He refused to disclose the share and name of the anchor investor in the second additional issue of VTB Deputy Chairman. “I will not be able to disclose the name of this Russian non-state institutional investor. I ask for your understanding for this, because we are a sanctioned issuer, and we believe that the risks of sanctioning our counterparties have not been exhausted. We do not want to expose our new investor to this risk,” he explained.
At the same time, Mr. Pyanov pointed out that “a very large number of ‘small’ private investors” took part in the additional issue. “The dominant number is, of course, private investors – individuals, that is, our retail investors. We can say that there were no material other institutional investors,” he added.
VTB was one of the first Russian banks to be sanctioned by the US, the EU, the UK and other countries in 2022. The restrictions included freezing assets and prohibiting residents of these countries from making any transactions and operations with the bank and its structures. VTB planned to exchange its assets blocked in Europe for the assets of foreign banks in Russia. However, negotiations with EU and US regulators on this issue did not bring to the results. Investors affected by the assets freeze filed a lawsuit and demanded that the credit institution compensate for the losses. However, the court left the claim without consideration.
More details – in the material “Kommersant FM” “VTB investors went to court”.
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