Russian lender Sovcombank has priced its initial public offering (IPO) at 11.5 rubles ($0.13) per share, the latest in a series of small listings by Russian companies in 2023, Reuters reports.
Russian private lender Sovcombank has applied to the U.S. Treasury for a licence to make membership payments to a United Nations climate funding programme while its activities are blocked by U.S. sanctions, a senior bank executive told Reuters. Sovcombank, one of Russia's 13 official "systemically important" credit institutions, was placed under U.S., UK and European Union sanctions soon after Russia launched what it calls a "special military operation" in Ukraine in February 2022.
Russian private lender Sovcombank is planning a legal challenge to sanctions imposed against it over the conflict in Ukraine and will start with Japan, where the bank has shareholders, a source. | April 3, 2023
Since the publication of our March 24, 2022, and March 17, 2022, client alerts, the U.S., U.K. and European Union, among other allied nations, have imposed additional sanctions and.