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Sberbank Became Fourth Capitalization Giant of Russia
The capitalization of Russia’s biggest bank, Sberbank, grew 16.6 percent to $55 billion as of early December, making it the fourth company of the country in worth of the common stocks. The leading trio is Gazprom, Rosneft, LUKOIL. In addition to them, Sberbank also drags behind Surgutneftegaz in capitalization, if the preferred stocks are taken into account.
The steady growth in Sberbank stocks made it one of the 30 biggest banks of the world. It is rated the 28th now, just between Dutch ABN Amro ($57.8 billion) and Belgium’s Fortis ($53.8 billion).
The price for Sberbank stocks has risen 2.2 fold since early this year vs. the growth of no more than 63.6 percent demonstrated by RTS benchmark. The latter gained 3.6 percent from early December.
Of interest is that the stepping-up trend for Sberbank had emerged even before its management decided to release new stocks worth several billion dollars in the near term and sell the better part of them via the trading floors of Russia. In late November, however, Economic Development Minister German Gref requested Sberbank to shelve the issue so that it wouldn’t hinder the VTB’s IPO slated for the second quarter of 2007.
www.kommersant.com
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