Russia’s Nomos bank carries out successful SPO on Moscow Exchange

By Andrei Skvarsky.

The Nomos banking group, one of Russia’s largest private lenders, carried through a successful secondary public offering of shares on Moscow Exchange last week, raising 19.08bn rubles ($600m) by selling all the securities it offered.

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Gazprombank and Otkritie Capital co-organised the SPO. Demand exceeded supply, with Nomos giving priority to major long-term investors in selling the shares, the Moscow-based firm said in a statement.

“Proceeds from the offering will be used to support the growth objectives of NOMOS-BANK Group, among other things, to finance the acquisition of a controlling equity stake in Otkritie Bank, as well as to improve the Bank’s flexibility by increasing its capital ratios, strengthening its competitive positioning, and allowing it to increase the financing limits for its major corporate clients,” the statement quoted Nomos chief executive Dmitry Romaev as saying.

A total of about 21.8m ordinary shares were sold at a per-share price of 875 rubles.

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