London Stock Exchange today welcomes Sberbank - the largest commercial bank in Russia - to its Main Market. The Central Bank of Russia, the company's majority shareholder, has raised $5.2 billion through the offering of ordinary shares and global depository shares (GDSs), with the GDSs admitted to trading on London Stock Exchange's International Order Book (IOB). The transaction represents the fourth largest ever international capital-raising on the London markets.
To mark the listing Anton Karamzin, Deputy Chairman of Sberbank's Executive Board, CFO, will join Xavier Rolet, CEO at London Stock Exchange Group, to open trading in London this week.
Alastair Walmsley, Director of Equity Primary Markets at London Stock Exchange Group, said:
"Sberbank is a renowned financial institution, and a great win for London. This demonstrates that the City's ability to deliver substantial equity funding to ambitious businesses around the world is as strong as ever.
"It also underlines the fact that London remains, and has been for many years, the natural destination for Russian companies seeking access to investor capital from overseas."
Herman Gref, President and Chairman of the Executive Board of Sberbank, said:
"For Sberbank transition from admittance to trade to a full listing on the London Stock Exchange is a natural evolutionary step. It further broadens and diversifies the universe of international investors who can access our shares as we continue to deliver on our long-term strategy."
Sberbank joins 61 companies from Russia already quoted across London Stock Exchange's markets, which together have a combined value of $444 billion (£273 billion).
Each of Sberbank's London-listed GDSs will represent four ordinary shares listed on Russia's MICEX Stock Exchange.
