MTS Bank PJSC announces the price range of the initial public offering (IPO) of ordinary shares on the Moscow Stock Exchange and the start of accepting applications from investors. This is stated in the bank's message.
The indicative IPO price range is set at the level of 2,350 rubles to 2,500 rubles per Share, which corresponds to the market capitalization of MTS Bank in the amount of approximately 70.6 billion rubles to 75.1 billion rubles. excluding funds raised as part of the IPO. The basic size of the Placement is 10 billion rubles. The collection of applications from investors begins on April 19, 2024, and will last until April 25, 2024 inclusive.
As part of the IPO, the Bank's majority shareholder, MTS PJSC, does not plan to sell its Shares, retaining a majority stake in the Bank's capital following the IPO. The Bank, its majority shareholder and their affiliates will assume obligations related to the restriction on the alienation of Shares within 180 days from the date of commencement of trading in Shares on the Moscow Stock Exchange.
As part of the IPO, a mechanism will be structured to maintain the share price in the amount of up to 15% of the base placement size, which will be valid for 30 days after the start of trading (a price stabilization mechanism).
MTS-Bank PJSC (MTS-Bank PJSC) is a universal commercial bank, one of the 50 leading Russian banks. MTS Bank's network of service offices covers more than 50 cities in 30 of the largest regions of Russia. The main shareholder is a private limited liability company "Mobile TeleSystems B.V." – a subsidiary of PJSC "Mobile TeleSystems".
