Moscow Times 22 May 2013
LONDON — The country’s second-largest bank VTB expects to close its $3.3 billion offering of new shares by the end of the week, with three sovereign wealth funds investing about $500 million each, chief executive Andrei Kostin said.
Azerbaijan’s state oil fund SOFAZ, Norges Bank Investment Management and Qatar Holding are buying more than 50 percent of the offering of 2.5 trillion VTB shares on the Moscow stock market at 4.1 kopecks each (about one-tenth of a U.S. cent).
Kostin told Reuters in an interview that the anchor investors were each taking “more or less similar” stakes of about $500 million — “the kind of ticket we are thinking of”.
Read more: http://www.themoscowtimes.com/business/article/wealth-fund-trio-each-investing-500-million-in-vtb/480294.html#ixzz2U7FpvMyI
The Moscow Times
