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Sovereign Wealth Funds Briefing - Categorized | Market

VTB surges to 2-week high on Qatar fund report

Posted on 15 February 2013

VTB Group led gains on Russia’s Micex Index, jumping to a two-week high, on a report Qatar’s sovereign wealth fund is in advance talks to invest as much as $3.5 billion in the nation’s second-biggest lender.
As part of the deal, the details of which may be announced next week, VTB will issue $1.5 billion in new equity and $1.5 billion of mandatory convertible bonds to the wealth fund, the Telegraph reported, citing unidentified people familiar with the deal. Russian First Deputy Prime Minister Igor Shuvalov said in an interview on Jan. 21 VTB is meeting sovereign wealth funds and other investors to sell new shares totaling at least $3 billion. VTB shares slumped 8.8 percent last year………………………………………Full Article: Source


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