BY WILLIAM MAULDIN
MOSCOW—VTB Group bucked a trend of failed Russian initial public offerings over the past week, with the Russian government raising $3.3 billion by selling shares to investors Friday, according to a banker involved in the deal.
The Kremlin, launching a $34 billion wave of asset sales, found sufficient investor interest to sell a 10% stake in VTB—Russia's No. 2 banking lender by assets—at $6.25 per global depositary receipt, the banker said, or just under Friday's closing share price of $6.27.
It was unclear Friday whether Russia enlisted the help of state development bank Vnesheconombank or Kremlin-friendly tycoons to help ...
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