Russia’s SBERBANK managers want to expand their stock trade. First Deputy CEO Alla Aleshkina says that SBERBANK securities might be traded on the LSE next year. No additional share issue is planned. Investors will be able to exchange existing stock for GDRs. Aleshkina, however, admitted that SBERBANK’s GDR program may be postponed to a later period. The priority task, according to Aleshkina, is to split SBERBANK shares by this autumn. Analysts believe that the LSE listing will make SBERBANK’s GDRs more attractive to foreign investors and is capable of raising capitalisation by 20%. With its R2.2 trillion capitalisation, SBERBANK is currently second only to GAZPROM among the richest Russian companies.
Source: VEDOMOSTI, June 20, 2007
