20 February 2004 21:37
Rosbank targets early 2007 for IPO
MOSCOW. Feb 20 (Interfax) - Rosbank, Russia's seventh biggest lending institution by assets, aims to float its
shares early 2007, Andrei Klishas, the bank's newly-appointed chairman, told Interfax.
"I accepted the post because I have a very important project, namely the merger between Rosbank and the OVK
banking group, which directly affects shareholders, to accomplish," Klishas, who is also general director and CEO
of the Interros holding company, said. "We will deliver the project in two or three years, after which I will
vacate all positions at Rosbank. By then, the merged bank should be in a position to float its shares," Klishas
said.
The reshuffle of the Rosbank board, approved at an EGM, was designed to make the board more effective, Klishas
said.
"The shareholders voted very carefully. We have several very important short-term goals and the board was
elected with achieving the bank's specific goals in mind," Klishas said.
Alexander Popov, Rosbank's CEO, told Interfax that the merger between Rosbank and OVK was a priority to which
Interros, as the majority shareholder, was devoting particular attention.
Popov also said the Rosbank executive board would submit a revised development strategy by the end of February.
Rosbank was seventh on the Interfax-100 ranking of Russia's biggest banks by assets at the end of the third
quarter of 2003. [RU ASIA EUROPE EEU EMRG BNK ECI STX] pr <>
[Interfax] |
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