Shares of the Bank “URALSIB” has soared by 100%

Moscow. On 6 November. Shares of the Bank “URALSIB” on Friday morning took off in half after the Moscow exchange raised the upper limit of the trading corridor for these securities due to the ongoing rally on the news that control of the Bank under the reorganization will go to the businessman Vladimir Kogan.

It is 10:54 MSK shares of URALSIB increased to 0.17 rubles (+100%) – the highest level since December 2011.

On the eve of the papers of URALSIB soared 152%. Exchange twice in one day raised the upper boundary of the trading corridor for these securities first to 0.07 ruble, then to 0.1 ruble per share due to excessive demand. In just two days shares of URALSIB soared 5 times.

Monday the CBR announced that the investor “URALSIB” will be Vladimir Kogan, who offered “the most favorable financial conditions” of rehabilitation. The DIA will provide to the goal of financial improvement of Bank of 67 billion roubles under 0.5% per annum for 10 years and 14 billion roubles under 6% per annum for 6 years. He soon URALSIB reported that Kogan has concluded with Nikolay Tsvetkov an agreement to acquire 82% shares of the credit institution.

Fame Cohen purchased as co-owner of industry and construction Bank St. Petersburg (in 2004, was sold to VTB) and the head of “Banking house “St.-Petersburg”.

The day before he said that he hoped by January to approve the business plan of the Bank. “The end of the year I would like to get our young fellow strategists a new governance structure, would like to see the Bank during these two months to minimize the losses that accumulated over the year. Of course, miracles will not be – we’re not out on 1 January at a profit, but will try to minimize losses. I would until January 1 to receive and approve a business plan under which the Bank will move,” he said in an interview to “Russia-24”.

According to him, the pessimistic forecast sees the release of “URALSIB” profit in two years, optimistic – within a year.