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Bank Saint-Petersburg completes share offering

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Bank Saint-Petersburg completes share offering

PJSC Bank Saint-Petersburg completed the placement of 60 million new ordinary shares with new and existing shareholders.

The shares were priced at 53 Russian rubles per share, and the offering generated about 3.2 billion rubles of fresh capital, the bank said Aug. 11. The shares offered to new shareholders were 1.5x oversubscribed, with European, U.S.-based and Russian institutional investors acquiring 40%, 30% and around 25% of the stock, respectively.

As of Aug. 10, US$1 was equivalent to 59.84 Russian rubles.