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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Norway, Qatar and Azeri sovereign wealth funds buy into Russia’s VTB

Posted on 30 April 2013

Russia’s second-largest lender VTB Bank said Monday its secondary public offering, scheduled for May, attracted demand from the sovereign wealth funds of energy giants Norway, Qatar and Azerbaijan.
VTB said in a statement it received “firm and binding commitments” from existing and new shareholders, including bids from Norges Bank Investment Management, Qatar Holding LLC and the State Oil Fund of Azerbaijan.VTB is planning to issue 2.5 trillion of new ordinary shares worth 102.5 billion rubles ($3.23 billion) to meet capital adequacy targets and provide funding for the continued growth of the business………………………………………..Full Article: Source


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