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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.

Moscow, Russia.

Photographer: Andrey Rudakov/Bloomberg
Corrected

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.