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Otkritie FC Bank Raised RUB 21.4 Bn of Equity as Part of an SPO

17.11.2014

Otkritie FC Bank raised RUB 21.4 bn of equity as part of a follow-on public offering on the Moscow Stock Exchange. The Bank placed a total of 22,838,624 shares at RUB 935 per share.

Gazprombank and Bank Otkritie Capital acted as Joint Bookrunners in the deal.

Dmitry Romaev, President of Otkritie FC Bank, noted: "The market conditions have changed significantly since we registered the follow-on offering. We have nevertheless succeeded in placing the shares: the level of demand shown by investors exceeded the expected values. As a result of the SPO, we have not only raised the capital required for further business growth but also expanded our shareholding structure: alongside the strategic investor who will hold approximately 7.4% in the Bank's capital, a number of institutional investors that have not previously held any of the Bank's shares as well as private investors have taken part in the offering."