Sunday, July 23, 2017

Nomos Bank places additional shares in MICEX public offering

Last week, Nomos Bank successfully placed all of its additionally issued shares made available via a public offering on the Moscow Stock Exchange.

Nomos placed 21.8 million shares were placed on MICEX at a rate of $27.41 per share. In total, Nomos Bank generated $600 million.

Overseen by Gazprombank and Otkritie Capital, shares placed were offered first to the bank's major long-term investors.

"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," Nomos Bank President Dmitry Romaev said.