Support The Moscow Times!

Nomos IPO Raises $718M

Nomos Bank said Monday that it would raise at least $718 million from its initial public offering in London and Moscow, making it the biggest by a Russian private issuer in the year to date.

The $35-a-share pricing was just above the middle of an original $32 to $37 range, which was subsequently narrowed during the bookbuilding process. Global Depositary Receipts were priced at $17.50 each.

Nomos managed its IPO, despite committing to invest just 5.5 billion rubles ($194.1 million) back into the bank, with the rest being pocketed by 18.7 percent shareholder Roman Korbacka. Credit Suisse, Deutsche Bank and VTB Capital acted as joint global coordinators of the offering.

(Reuters)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.