RIA NOVOSTI. The Deposit Insurance Agency (DIA) has sold at a public auction 53% of the shares of Narodny Bank of the Republic of Tyva to an individual, Anton Orlov, electronic auction platform Tsentr Realizatsii, where the auction was held, said on its web site, RIA Novosti wires.
The auction was held on August 1 as part of the bankruptcy procedure carried out at former Federation Council member Sergey Pugachov’s International Industrial Bank. For the record, IIB was deprived of its license on October 5, 2010 and in late November the court declared the bank bankrupt. The lending institution owned 53% of Narodny Bank of the Republic of Tyva. Another 43.55% holding, as written on the bank’s web site, is in the hands of the Ministry of Land and Property Relations of the Republic of Tyva.
The state-controlled corporation planned to sell 61,200 shares (53% of the charter capital) of nominal value of Rub 500.00. The initial bid price of this equity stake equaled Rub 41.38 mln. The price offered by Anton Orlov exceeded the initial price by 24.5% and equaled Rub 51.5 mln, the electronic auction platform said on its web site.
