OREANDA-NEWS. Gazprombank acted as Joint Bookrunner in the USD 468.5m accelerated bookbuilt offering of Moscow Exchange shares sold by the Central Bank of Russia.

On 2nd of July 2014, Central Bank of Russia sold half of its stake or circa 11.73% of the outstanding share capital of Moscow Exchange (ticker MOEX), corresponding to an offering size of circa USD 468.5m, through an accelerated bookbuilt offering to domestic and international institutional investors.

Gazprombank acted as Joint Bookrunner in this transaction alongside Goldman Sachs, J.P. Morgan, VTB Capital, Sberbank and Citigroup. In less than four hours of bookbuilding on the evening of Tuesday 1st of July, the transaction generated significant demand from Russian as well as international investors, and the offer size was well oversubscribed.

The price was finally set by the Central Bank at RUB60 per share. The offering takes places a result of the legal obligation pertaining to Federal Law No. 251-FZ, dated 23 July 2013, regarding the required disposal by the Central Bank of Russia of its stake in Moscow Exchange by 1 January 2016.

"After the recent placement of QIWI shares, this is Gazprombank's second international equity deal for a Russian issuer since the re-opening of the market in June. The market remains highly selective, but it is now opening again for high-quality issuers, such as the Moscow Exchange. Given the nature of the issuer, this deal is particularly important, and the success of the placement among both domestic and international investors further highlights the renewed attractiveness of the Russian capital market", said Denis Shulakov, First Vice-President, Gazprombank.