Russia’s ZENIT bank is expected to scrap its plans to place shares in 2007. This is the last federal-level bank that planned to hold an IPO before this year ends. The bank planned to place shares on Russian trading floors and the LSE. Experts also expect the SAINT PETERSBURG bank to follow suit. Earlier, AK BARS, which is like ZENIT owned by the TATNEFT oil company, and NOMOS BANK scrapped their plans to hold IPOs this year. Analysts are confident that banks will benefit from their decisions to hold IPOs next year.
Source: WWW.KOMMERSANT.RU, October 8, 2007
