A Survivor of Russia's Bank Purge Is Eyeing an IPO in 2019
- Co-owner of Sovcombank intends to seek a ‘window’ after April
- The lender attracted foreign sovereign funds in pre-IPO round
Moscow, Russia.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
As a four-year purge of Russia’s rotten banks draws to a close, those still standing are starting to dream big. One is even targeting an initial public offering as early as next spring.
Sergey Khotimskiy, a co-founder and core shareholder of PJSC Sovcombank, says his bank wants to raise at least $300 million through what could be the first significant Russian bank IPO in more than five years. That could expand its equity by 20 percent or more.