(Adds stake's estimated market value, updates share price)
MOSCOW, May 18 (Reuters) - Russia's Trust Bank plans to sell
its 9.1% stake in the country's second-largest lender VTB
via an accelerated book building (ABB), one of
organisers of the deal said in a statement.
The sale of the stake is part of the central bank's efforts
to recover funds spent on bank bailouts since 2017.
Trust Bank plans to sell up to 1.18 trillion shares in VTB,
Citigroup said in the statement on Tuesday. Citigroup,
J.P. Morgan and VTB Capital are organising the deal.
Moscow-listed shares in VTB fell after the statement and
were down 4% by 1653 GMT.
The 9.1% stake in VTB was worth about 56.6 billion roubles
($766 million) at the closing price on Monday, according to
Reuters calculations.
Trust Bank holds non-performing assets left from three
private banking groups taken over in a state bailout. Its stake
in VTB was originally held by the Okritie banking group, which
was the first to be bailed out.
VTB will not receive any proceeds from the deal, Citigroup
said, adding that books for the deal would open immediately and
could close shortly.
($1 = 73.8680 roubles)
(Reporting by Polina Devitt
Editing by David Goodman)