On trading of Asian-Pacific Bank PJSC shares owned by the Bank of Russia
In line with financial resolution measures applied to Asian-Pacific Bank PJSC, Registration No. 1810 (hereinafter, the Bank), in accordance with the Plan for the Bank of Russia’s Participation in Bank Bankruptcy Prevention Measures, the Bank of Russia has become the owner of the Bank’s ordinary certified shares amounting to 99.99999833333333% of its authorised capital.
As a result of the financial resolution measures and implementation of a new business model in the Bank, its financial standing has been stabilised, new capital has been formed, outflow of its clients’ funds has been stopped, its solvency has been restored and the Bank’s profitability has become stable.
On 19 November 2018, ACRA set the Bank’s credit rating at ВВ+(RU), outlook ‘Developing’.
Given the positive dynamics of the Bank’s financial standing, the Bank of Russia Board of Directors has decided to sell the Bank’s shares owned by the Bank of Russia through conducting an open electronic auction with lowering of the initial sales price (the Dutch auction) on 14 March 2019 via the Sberbank‑AST (CJSC) trading platform.
The information notice on conducting the said auction by the Bank of Russia, together with the detailed documentation are available on the Bank of Russia website (Information on Credit Institutions section), section Sales of Credit Institutions., on the Sberbank-AST (CJSC) website (http://utp.sberbank-ast.ru) and on the Russian Federation official website for the information on public tender offers (www.torgi.gov.ru),
The reference to the Press Service is mandatory if you intend to use this material.