VTB Bank confirms transfer of assets to SOFAZ

VTB, Russia’s second largest holder of bank assets, said that SOFAZ (Azerbaijan), Qatar Holding LLC (QATAR) and Norges Bank Investment management (Norway) were invited with 102 billion rubles of investments, RIA Novosti reports.

VTB announced additional emission of 2.5 trillion shares on April 26 at a cost of 0.041 rubles per share with a discount of 9%. Shareholders will make use of the benefits on May 6-17. Additional investments will reduce the government’s share in VTB from 75.5% to 60.93%.

Adapted from: Vestnik Kavkaza