Finance Ministry Buys Sberbank’s Shares for RUB 2.1394 trillion

13 April 2020 (09:25)

UrBC, Moscow, April 13, 2020. Russia’s Finance Ministry purchased a shareholding in Sberbank for RUB 2.13943571 trillion (RUB 189.44 per share), the ministry’s website states.

Now in accordance with Article 1 of Federal Law No. 50-FZ, dated 18 March 2020, ‘On the Acquisition by the Government of the Russian Federation of Ordinary Shares of Public Joint-Stock Company Sberbank of Russia from the Central Bank of the Russian Federation and on Invalidating Certain Provisions of Legislative Acts of the Russian Federation’, 11,293,474,000 ordinary shares were purchased from Sberbank (a 50% equity stake) with the National Welfare Fund’s money, the Finance Ministry states.

According to the CBR’s official press release, ‘the price of one share was defined in the agreements as the weighted average price of Sberbank’s ordinary shares at the close of trading at the Moscow Exchange over the 30-day period from 9 March 2020 to 7 April 2020 and amounted to 189.44 rubles per share.’ According to the Finance Ministry, the total amount thus reached RUB 2.13943571 trillion.

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