Tinkov’s bank assessed at up to $3 billion | Russia Beyond The Headlines

Tinkov’s bank assessed at up to $3 billion | Russia Beyond The Headlines:

"The bank Tinkoff Credit Systems (TCS-Bank) will hold an initial public offering of Global Depositary Receipts in London, with the seller being the parent company of the bank — the Cypriot TCS Group Holding PLC. The London Stock Exchange announced that they plan to raise $750 million. The bank will receive $150–200 million, and the rest will go to the shareholders.
The main owner, Oleg Tinkov, and the management of the bank have undertaken not to sell shares for one year after the IPO; other shareholders undertook not to sell for six months after the IPO. The organizers and bookrunners are Goldman Sachs, Morgan Stanley and Sberbank CIB; the  bookrunners are JP Morgan and Renaissance Capital, and the agent is Pareto Securities AB.
One financier who saw the documents of the offering says the listing will be placed in late October. The start of the roadshow is scheduled for Oct. 14, the pricing is scheduled for Oct. 25, and the bank is assessed at $2.5–3 billion."

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