For the period from 19 April to 4 may Tinkov has bought 2.3 million Depositary receipts of TCS group (Tinkoff Bank and Tinkoff Insurance) at an average price of $3,93 per piece, according to the message Bank. It is 1.28% of the share capital. Thus, the share of Tinkov in the Bank increased to 53,38%.
Oleg Tinkov third time buying paper Bank, said the press service of the Bank. From 12 October to 16 November 2015 Tinkoff purchased 2.5 million GDRs at an average of $2,72 apiece. It is made up 1.39% of the Bank’s capital. First Tinkoff acquired receipts owned by his company Tadek in the amount of 461 thousand units, which was 0.25%. As a result, in the aggregate, Oleg Tinkov owns 5.3 million Depositary receipts, or 2.93% of the issued share capital.
As Anna passed through the press service of the Bank, he is going to have to increase its stake as a “fundamental force “Tinkoff” will manifest itself in two to four years. “As the founder and majority shareholder TCS Group Holding, I am confident in the long-term growth of the company, the potential of its business model and further increase the value of the group for shareholders,” said Tinkov.
During the IPO in the fall of 2013, the Bank sold securities to investors at $17,5 apiece. In July 2014, TCS Bank has notified the LSE through its shareholders that Tinkoff intends to acquire receipts for up to $10 million in the case of a favorable market situation. Plans to increase its share also said the minority shareholders of the Bank — funds Vostok Nafta, Goldman Sachs and Baring Vostok Private Equity Fund IV. In addition, the Bank’s management announced plans to acquire the Bank receipts in the amount of $750 thousand
In the first quarter of 2014 receipts Bank fell sharply to $6 apiece. In the summer of 2015 they cost $1,6–2,2 apiece, down from the beginning of the year two times. In the fall of the value of receipts increased slightly from the end of October 2015 to January 2016, the paper of the Bank were traded on the London stock exchange in the range of $2.8–3,06 per receipt. From the beginning of 2016 the shares trade in the range of $2.8–3.9 per receipt.
At this moment, the purchase receipts — it is rather more a PR stunt Oleg Tinkov, as after the fall in the value of shares from $17.5 to $2 per Bank was fixed not the best reputation among investors and stock “Tinkoff” have become illiquid, said the head of trading “Aton” Yaroslav Podsevatkin. Repurchase of shares from the market, committed by the controlling shareholder, usually attracts investors to the securities of the company and is perceived positively, he said. “The purchase of the shares has led to growth from $2.5 at the beginning of the year to almost $4,” says Podsevatkin.
But here it should be noted that in spite of the poor macroeconomic picture, the Bank shows quite good results, emphasizes Podsevatkin. Tinkoff Bank is one of the few retail banks, which showed profits in the first quarter, the company. In the first quarter the Bank profit has grown in comparison with the same period in 2015, almost three times to RUB 2.1 bn. As said earlier the official representative of the Bank Darya Ermolina, the increase in profit is due to growth in net interest income, as well as to improve the quality of the loan portfolio.
A favorable background becomes a General improvement in investor sentiment towards Russia, says Podsevatkin. “A good example is Sberbank, which for the year grew almost from 75 to 120 rubles., We have seen investor interest in the shares of the banking sector that show successful placement of shares ICB, PSB,” concluded the trader.