EEMEA market round-up: Sberbank fails to break record
Sberbank, Russia’s largest savings bank, launched an $8.8 billion equity issue last month.
The offer failed to beat oil company Rosneft’s $10.7 billion IPO, issued last year and the biggest ever Russian equity issue. Sberbank needs to raise the money to support a lending boom. Sberbank is seen as a proxy for the Russian economy and is the only liquid banking stock in the Russian market.