OREANDA-NEWS  The Moscow Exchange will suspend trading in Rosbank's ordinary shares from November 14, 2024, the trading platform warned. This decision is related to the reorganization of Rosbank.

It is assumed that it will be connected to TBANK (formerly Tinkoff Bank) in the form of a branch. The united credit institution will have only one banking license. The integration process is scheduled to be completed in the first quarter of 2025.

In early November, the shareholders of Rosbank and TBANK approved the merger of the two credit institutions. The Central Bank had to send a notification to the Department of admission and termination of the activities of financial organizations of the Central Bank about the beginning of the reorganization procedure.

In order to join Rosbank, TBANK will conduct an additional issue of shares with a nominal volume of 3 billion rubles. TBank will place 300 million shares with a nominal value of 10 rubles each. 5.88 shares of Rosbank with a nominal value of 10 rubles will be converted into one share of TBANK.

TKS Holding, which owns TBANK, gained control of 99.4% of Rosbank's shares in mid-August. The actual multiplier of the acquisition of Rosbank was 0.8 of its total capital.

The main shareholder of TKS Holding is Vladimir Potanin's Interros (he owns 41.4% of the group).