Support The Moscow Times!

Now is the time to support independent reporting from Russia!

Contribute Today

Nomos Bank to Float $500M Share Packet

Nomos Bank will float 19.5 percent of its shares, worth an estimated 16 billion rubles ($500 million), on the Moscow Stock Exchange, Vedomosti reported Monday.

The offering, approved by the bank's board of directors, is planned for September, a representative of the bank said.

Otkritie Capital will oversee the offering, while the starting price will specified later.

"The funds attracted in the offering will be used to develop the bank," deputy chief executive Dmitry Romayev said in a statement, without going into specifics

Nomos is a part of Otkritie Financial Corporation.


Read more

Russia media is under attack.

At least 10 independent media outlets have been blocked or closed down over their coverage of the war in Ukraine.

The Moscow Times needs your help more than ever as we cover this devastating invasion and its sweeping impacts on Russian society.