Urals | Finance, business

Swedish fund buys 10% of Severnaya Kazna

2 Jun '08
A Swedish investment fund has bought a 10% stake in Ekaterinburg's Svernaya Kazna (Northern Treasury) bank after the bank held a follow-on share offering.

The East Capital Explorer Financial Institutions Fund AB is reported to have paid $2.6m for the slice.

The follow-on offering was registered last Friday at the Sverdlovsk branch of Russia's central bank, Bank of Russia, for 6.17 million common shares.
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