Bank Saint Petersburg may sell up to 10% stake via London private offering

MOSCOW, May 20 (RIA Novosti) – Bank Saint Petersburg, one of Russia’s top 30 banks by assets, is considering selling up to 10 percent of its stock by private subscription, tentatively in London, Chairman Alexander Savelyev said on Friday.

“Basically, it will be a private deal. I think some time in November. In London, perhaps,” Savelyev said, adding existing shares would be put up for sale. He said he had no plans to sell his own 30 percent.

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