Finance & Credit Bank to Conduct IPO

28 January 2008
According to Ukrainian News, Konstantin Zhevago’s Finance & Credit Bank plans to conduct an IPO on AIM LSE in early March. The article said the bank, Ukraine’s 11th largest by assets, could attract USD 300 to 350 mln via placement of a 25% stake and that the IPO could be delayed until 2009, depending on market conditions. Alexander Viktorov: Finance & Credit would be the fourth largest Ukrainian bank to float its shares. The bank’s placement could be executed at 3.5-4.0x P/B. The bank’s estimated book value of USD 200 mln in 2007 implies an MCap of USD 660-760 mln.