MOSCOW: Russia will sell a 10 percent stake in its second-biggest lender, state-owned VTB bank, at a price of $6.25 per Global Depositary Receipt (GDR), the RIA Novosti news agency reported Sunday. “The price is close to the market one and consisted of $6.25 per GDR,” the agency cited a source close to the deal as saying after the books closed Friday. An official announcement will be made Monday. Selling at that price, the government stands to reap at least $3.25 billion (2.4 billion euros) for state coffers from the deal, a second public offering for VTB, the Vedomosti business daily reported. Two investors, US investment fund TPG and Italian group Generali, have expressed intentions to buy the shares, according to s reports.
