Oleg Malis sold his 6.64% stake in Otkritie Financial Corporation to the company's top managers, as stated by the Otkritie FC press service.
"My interest in Otkritie Financial Corporation which I initially considered as an interesting portfolio investment, has been quite successful. At present, I plan to focus on other projects outside the financial sector," O. Malis commented on his decision.
Oleg Malis joined Otkritie FC's shareholding structure in the third quarter of 2012 as part of the corporation's integration with Nomos-Bank Group. Malis acquired 4.95% of the financial corporation's shares and a 4.91% stake in Nomos-Bank. During the follow-on offering in the second quarter of 2013, he increased the stake in Otkritie FC 6.64%. Otkritie FC bought back Malis's entire stake in Nomos-Bank in the third quarter of 2013 to consolidate the lending institution's controlling interest.
To date, Otkritie Financial Corporation has consolidated a controlling interest in Nomos-Bank. The corporation's assets are estimated at around RUB 2 trillion (including the assets of Bank Petrocommerce which will be taken over before the end of 2014).
Otkritie FC is a financial corporation providing access to a wide range of banking, investment, insurance, and retirement solutions for private, corporate, and institutional customers.
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