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MOSCOW, February 21 (RIA Novosti) - Russian state-controlled retail savings bank Sberbank [RTS: SBER] has set the price of its additional share issue at 89,000 rubles (about $3,396) per share, the finance minister said Wednesday.
"Today the bank's supervisory board has made a decision on the cutoff price of 89,000 per share," Alexei Kudrin said.
Kudrin said the volume of applications is estimated at more than 260 billion rubles (about $9.9 billion).
The finance minister said the final volume of the placement of Sberbank's common stock will be determined within the next six weeks.
