During the initial public offering (IPO), SPB Exchange will place up to 14.3 million ordinary shares on its own platform at a price of $ 10.5-11.5 per share, the site said.
Thus, during the IPO, the company intends to place up to 12.5% of the current share capital, which is estimated at $ 1.2-1.3 billion. As a result, the exchange will attract approximately $ 150 million.
The final price of the shares will be set after the formation of the order book and announced around November 19. The shares of the site will be traded under the ticker “SPBE”. Investors will receive the shares around November 23rd.
The shares will be offered to investors in Russia and other players who are not “American entities” in “offshore deals” in accordance with and under US securities law. VTB Capital will be the senior global coordinator of the placement. Bookrunners of the offer will also be Tinkoff and Alfa CIB, Aton, Bank GPB International SA, BCS Global Markets, Finam, Investment Company Freedom Finance LLC, Otkritie Bank, Sova Capital Limited and Sovcombank.
“The company plans to use the net borrowed funds from the offer to implement general corporate goals, including an increase in the capital of key operating subsidiaries of Best Efforts Bank PJSC (SPB Bank) and NCO-CK MSE Clearing Center (JSC) (SPB Clearing) ) “- it was said in the message.
The plans for the IPO were confirmed by SPB Exchange earlier, on October 18. At the same time, the site announced its intention in the first half of 2022 to submit an application to the US Securities and Exchange Commission (SEC) for listing on the American Nasdaq site.
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