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Sova Capital Acts as Joint Global Coordinator on Credit Bank of Moscow’s RUB 22.7bn Capital Raise

17 May 2021

Sova Capital is pleased to announce it has acted as a Joint Global Coordinator and Joint Bookrunner on an Offering of ordinary shares of Credit Bank of Moscow, one of Russia’s largest privately owned banking institutions. The offering, which took place on Moscow Exchange, raised RUB 22.7 billion (USD 305 million) and the offering price was set at RUB 6.30.

“We are delighted to have co-led the capital raising for Credit Bank of Moscow, raising equity capital the Bank will deploy to pursue its strategic goals, while also expanding its shareholder base,” said Alina Sychova, Head of Capital Markets Origination at Sova Capital, commenting on the transaction.

Credit Bank of Moscow is a leading non-state Russian bank designated as a systemically important banking institution with equity of approximately $3.2bn and total assets of approximately $39.5bn as of 2020.

Other Joint Global Coordinators on the transaction were Citigroup, Renaissance Capital and Société Générale. Aton and BCS Global Markets acted as Joint Bookrunners.