8 Nov 2016 07:15
FOR IMMEDIATE RELEASE 8 NOVEMBER 2016
Sistema PJSFC to participate in additional share issue of MTS Bank
Moscow, 8 November 2016-Sistema PJSFC (LSE: SSA, MOEX: AFKS) (hereinafter-Sistema), a diversified public holding company, announces that it has acquired 7,362,690 ordinary shares of PJSC MTS Bank (hereinafter - MTS Bank), placed as part of an additional issue, for a total consideration of RUB 7.7 billion.
As a result of the transaction, Sistema's share in the capital of MTS Bank will reach 71.87%.
The total share issue of MTS Bank will be worth RUB 10.5billion.
Sistema President Mikhail Shamolin said: "This additional share issue of MTS Bank is being carried out to optimise the bank's capital structure. In addition, it will enable the further realisation of the bank's retail and corporate strategy, as well as the digitalisation of the business. The bank is already demonstrating consistently positive dynamics, namely in the quality of its loan portfolio and profitability. We expect MTS Bank to report a net profit in 2017."
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For further information, please visit www.sistema.ru or contact:
IR department Yury Krebs Phone: +7 (495) 730 66 00 y.krebs@sistema.ru
| Press service Sergey Kopytov Phone: +7 (495) 228 15 32 kopytov@sistema.ru
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Sistema PJSFC is a publicly-traded diversified Russian holding company serving over 150 million customers in the sectors of telecommunications, high technology, banking, retail, timber processing, agriculture, real estate, pharmaceuticals, tourism and healthcare services. The company was founded in 1993. Its revenue in 2015 reached RUB 708.6bn; its total assets equalled RUB 1.3tn as of 31 December 2015. Sistema's global depositary receipts are listed under the symbol "SSA" on the London Stock Exchange. Sistema's ordinary shares are listed under the "AFKS" ticker on the Moscow Stock Exchange. Website: www.sistema.ru.