$2.78 billion DR capital raising the largest in Russia in 2011; VTB Bank's second GDR offering in less than four years
NEW YORK, March 30, 2011 — BNY Mellon, the global leader in investment management and investment services, has been selected by VTB Bank for its secondary global depositary receipt (GDR) offering. Each VTB Bank GDR represents 2,000 equity shares and trades on the London Stock Exchange under the symbol "VTBR." VTB Bank's equity shares are listed on Russia's MICEX under the symbol "VTBR." The $2.78 billion raised through the offering, VTB Bank's second since 2007, makes it the largest DR capital raising by a Russian incorporated company this year.
The VTB Bank GDRs and equity shares have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the U.S., absent registration or an applicable exemption from the registration requirements.
VTB Bank is one of the largest financial institutions in Russia. It is the main entity of the VTB Group, a leading universal Russian banking group offering a wide range of banking products and services in Russia, the CIS, Western Europe, Africa and Asia.
"Our extensive experience working with many Russian depositary receipt issuers enables us to support VTB Bank in its continued global expansion," said Michael Cole-Fontayn, chief executive officer of BNY Mellon's Depositary Receipts business. "This secondary GDR offering by VTB Bank only reinforces our belief that Russia remains a major hub for global investment. We look forward to continuing our longstanding partnership with VTB Bank and its shareholders."
BNY Mellon acts as depositary for more than 2,100 American and global depositary receipt programs, acting in partnership with leading companies from 67 countries. With an unrivaled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the company delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Learn more at www.bnymellon.com/dr.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $25.0 trillion in assets under custody and administration and $1.17 trillion in assets under management, services $12.0 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn more at www.bnymellon.com.
This release is for informational purposes only. BNY Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee.