VTB shares fell below the placement price

On July 30, VTB shares could be bought below the placement price at an IPO for 13.6 kopecks. On the London Stock Exchange, the price was $ 10.5 - 0.6% less than when placing. The leaders of the bank and officials closely monitor the capitalization of the State Bank, whose IPO has become the most folk, notice Vedomosti , because after a massive advertising campaign, 131,000 people who invested one and a half billion dollars, which were attracted by the bank during the IPO, became shareholders of VTB.

As the chairman of the Board of VTB Andrei Kostin said, "after the IPO, the first thing I turn on the computer and watch the quotes of the bank shares. If they fall, the state will not allow this." “The government, as the main shareholder, will ensure the quality of bank management so that the quotes do not fall,” promised the chairman of the VTB supervisory board, Minister of Finance Alexei Kudrin.

Kostin is personally interested in the growth of VTB capitalization: during the IPO, he invested 26 million rubles in the bank’s shares, and VTB managers - 152 million rubles.

Analysts note that since the IPO, the bank has not been able to particularly please investors. The disappointing results of the first quarter were announced, in which the bank’s profit decreased by 30.5%compared to the same period last year. For the second half of the year, profit decreased by 26%. The bank explained this by the fact that a year earlier received a significant part of the profit from the sale of 8.8% of the KamAZ shares and the reassessment of securities, and this year spent on an IPO.

However, some experts write off the fall of VTB shares on market dynamics. Excluding IPO expenses for January-May, profit increased by 43% compared to the same period last year. The fall in VTB’s price below the placement will not force private investors to sell shares, since the majority was invested for a period of at least until the end of the year.