×
Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Promsvyazbank Eyes IPO

Promsvyazbank has asked investment banks for proposals to arrange an initial public offering of its shares, three banking sources said Friday.

"They have started preparations. ?€¦ But arrangers have not been picked yet," one of the sources said. The sources did not say how much the lender planned to raise or when the IPO might be.

Promsvyazbank, Russia's 11th biggest by assets, in which brothers Dmitry and Alexei Ananyev own almost 74 percent, originally planned to raise around $1 billion via an IPO before the global financial crisis by selling existing and new shares to support business growth.

(Reuters)

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more