NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN
On August 11, Bank Saint Petersburg successfully completed the placement of 60 mln new ordinary shares, thus increasing its capital by RUB 3.2 bn.
The transaction drew strong interest from existing and new institutional investors: more than 50 funds took part in the placement by exercising their pre-emptive rights or through open subscription.
Bookbuilding resulted in 1.5 times oversubscription of the stock available to new shareholders. European investors acquired approximately 40% of this stock, US-based investors more than 30%, and Russian institutional investors around 25%. The prevalence of long-term investors indicates high book quality.
The offer price was set by the Bank’s Supervisory Board on July 28 at RUB 53 per one ordinary share.
Mr. Alexander Savelyev, Chairman of the Bank’s Management Board, commented:
“Bank Saint Petersburg is one of the few Russian banks able to steadily raise capital in the market, which was proved by 5 successful public offerings during the 10 years of our public history. We welcome the fact that interest in the Bank’s shares from both domestic and foreign investors remains sustainable and long-term. The additional share issue will ensure further growth of the Bank’s business, increase share liquidity, and guarantee compliance with the equity increase requirement imposed by the Agreement with Deposit Insurance Agency.”
Ruslan Babaev, Co-Chief Executive Officer at Renaissance Capital:
“We are very pleased to have had the privilege to act as a global co-ordinator and bookrunner on yet another market transaction for Bank Saint Petersburg. We were very encouraged to see wide international investor demand for the transaction which is a strong testament to the Bank and its equity story.”