icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Russia's largest bank to be listed in London

Russia's largest bank, Sberbank, may be listed on the London Stock Exchange early next year.

According to the business daily Vedomosti, Sberbank aims to raise up to $US 1.5 billion through the listing of its Global Depositary Receipts on the LSE.

The paper quoted banking sources saying that Sberbank began talks in September with Merrill Lynch to organize a secondary public offering.

Sberbank aims to float GDRs on existing shares and may buy back its shares from minority shareholders soon.

Earlier this year Sberbank raised $US8.8 billion on the domestic markets to recapitalize its balance sheet and finance lending growth.