Sberbank sale met by high investor demand September 18, 2012 STRONG demand for Sberbank stock has kept the share price up despite the Russian central bank selling a huge stake in the firm this week. The central bank is offloading a 7.6 per cent stake, worth $5.2bn (£3.2bn) after pricing shares at 93 rubles last night. That sale will take the state’s holding in the [...]
Russian central bank to sell off Sberbank stake September 18, 2012 A MAJOR stake in Russia’s largest bank will go on sale this week, it was announced yesterday, as the country’s central bank takes advantage of positive market sentiment. The 7.6 per cent stake of Sberbank is expected to bring in roughly $5bn (£3.1bn) for the Russian state, with 85 to 90 per cent of the [...]
A few green shoots show their heads in the City September 18, 2012 WHISPER it quietly, but are there finally signs that, when it comes to initial public offerings, the City is limping back to life? Not everyone has been entirely welcoming of the growing trend of Russian firms looking to IPO over here, but the news of Sberbank’s $5bn offering was surely a welcome green shoot in [...]
Sberbank unveils £3.3bn stake sale September 17, 2012 Russian state bank Sberbank is to list in London this week in a $5.4bn (£3.3bn) share sale, it announced today. The sale of a 7.6 per cent stake in Sberbank, which is seeking a joint London-Moscow listing, has been held back for more than a year by weak financial markets. Russian stocks rallied by eight [...]
Russian health group eyes IPO health IPO September 13, 2012 MD MEDICAL Group, a major Russian private healthcare provider, is planning an initial public offering of shares in London and has picked JP Morgan and Deutsche Bank to arrange the issue. MDMG, which could become the first Russian company in the sector to go public in London, was set up in 2010 and is controlled [...]
FTSE 100 jumps on German court ruling September 12, 2012 The leading share index was up in early trading, as investors reacted positively to news that German judges ruled in favour of the Eurozone’s rescue fund. Meanwhile, holding company Chesnara led the fallers on the FTSE All-Share, down 6.87 per cent. Embattled platinum miner Lonmin shed 5.56 per cent, as strikes continued at its Marikana [...]
What the other papers say this morning September 11, 2012 FINANCIAL TIMES Kremlin shields Gazprom from EU The Kremlin has moved to shield Gazprom from an EU anti-monopoly investigation in a deepening standoff over gas prices, warning that it will not co-operate with actions deemed to be against its interests. A decree signed yesterday day by Vladimir Putin aims to protect “strategic” companies operating abroad, [...]
What the other papers say this morning September 6, 2012 FINANCIAL TIMES Investment banks eye Europe job cuts Big investment banks in Europe, including Nomura, Credit Suisse and UBS, are stepping up plans to cut jobs as they seek to adapt to a drastic slowdown in revenues and tighter regulation. Bank executives, headhunters and analysts say that the cuts are shaping up as the deepest [...]
Direct Line’s Geddes needs to sell himself or face failure September 6, 2012 LONDON’S capital markets have been cheered a little by news that Alisher Usmanov, the Russian tycoon that owns a large shareholding in Arsenal football club, intends to raise $4bn (£2.5bn) for mobile phone operator Megafon in the next few weeks. There have been too few IPOs this year and so anything that livens up the [...]
Russia’s Rosneft halts TNK-BP talks over deal to buy a stake September 6, 2012 RUSSIA’S Rosneft has taken time out in talks to buy a stake in TNK-BP to avoid falling foul of a shareholder’s agreement between its current owners, Rosneft chief executive Igor Sechin said yesterday. BP said in June it would start the process of selling its 50 per cent stake in TNK-BP, which it formed nearly [...]