Bank of Russia commences acceptance of notices of intent to buy shares of PJSC Bank FC Otkritie

As part of its strategy to exit the capital of Public Joint-stock Company Bank Otkritie Financial Corporation (Reg. No. 2209; hereinafter, the ‘Bank’), the Bank of Russia is commencing the preparation for the sale of the Bank's shares via on-exchange trading. At the same time, the Bank of Russia is considering an alternative way of selling the Bank’s shares to a strategic investor and is starting to explore the interest of potential investors.

Depending on the interest of strategic investors, the insurance and/or pension business of the banking group may be carved out before the sale of the Bank’s shares.

In order to determine the interest of strategic investors, in line with the federal laws, the Bank of Russia is announcing that it is commencing acceptance of notices of any parties interested in participating in the procedures to sell the Bank’s shares.

The Bank of Russia has posted the relevant information notice on its website in the section Financial Markets / Banking Sector / Financial Resolution of Credit Institutions / Sale of Credit Institutions / Current Offers for Sale of Banks.

Parties interested in acquiring the Bank’s shares are invited to send their notices of intent to the Bank of Russia from 11 October 2021 to 22 October 2021 in electronic form through information exchange participants’ accounts or by courier.

After considering these notices, the Bank of Russia will make a decision on further procedures for selling the Bank’s shares, which will be then announced.

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