Kazakhstan’s ATF-Bank intends to sell 7.66% of its shares to raise $276 million, Reuters reports. The bank will offer 5.01 million shares on the Kazakh stock exchange starting at $55 per share.
The bank’s existing shareholders will have a month to buy the shares using their preferential option. The bank is majority-owned by Italy’s UniCredit bank, which purchased 92% of ATF’s shares in 2007.
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