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Company News SECURITIES MARKET NEWS LETTER Weekly SSEECCUURRIIITTIIIEESS MMAARRKKEETT NNEEWWSSLLEETTTTEERR weekly Presented by: VTB Bank, Custody November 7, 2019 Issue No. 2019/42 Company News AlfaStrakhovanie raises charter capital 70% to RUB 12.5 bln On October 31, 2019 it was reported that Russian insurer AlfaStrakhovanie Group raised the charter capital by 70% to RUB 12.5 bln by changing a face value of its shares. The capital was increased at the expense of the undistributed profit of the company. Russian Railways raises RUB 44.074 bln from private share offering On November 5, 2019 it was stated that Russian Railways increased its charter capital by RUB 44.074 bln by selling common shares privately to its sole shareholder. The shares were paid in cash. In August, Russian Railways said that the government planned to boost its charter capital by RUB 84.07 bln including RUB 44.073905 bln from selling 44.07 mln common shares. Credit Bank of Moscow offers 2.75 bln new shares at RUB 5.35 per share On November 6, 2019 Credit Bank of Moscow sold 2.75 bln new shares at RUB 5.35 per security. The bank had collected bids since October 29 through November 5. Rossium of Roman Avdeyev, which holds 56.07% in the bank, was expected to bid for RUB 1.542 bln shares to keep its current stake in the bank. The bank said earlier it plans to allot up to USD 150 mln raised through the offer for the buyback of USD 600 mln 2027 Eurobonds and USD 700 mln perpetual Eurobonds. Citigroup, Societe Generale, and Sova Capital will act as organizers. Globaltruck says board approves RUB 386 mln share buyback On November 6, 2019 the board of directors of Russian truck operator Globaltruck approved RUB 386 mln share buyback program at a price of no more than RUB 132 per security. The buyback price is no higher than the price of the initial public offering (IPO) in 2017. The announcement says that the buyback program starts on November 6, 2019 or another scheduled date and will be in force until May 31, 2021 or until the attainment of the limit of the number (of securities) or the amount of buyback. The duration of the program can be changed. The shares of Globaltruck rose 39.86% to RUB 58.95 on 10:49 a.m., Moscow time on the Moscow Exchange, reaching a record since the end of August. VTB, Bank Vozrozhdenie, Zapsibkombank, Sarovbusinessbank to merge in 2020 On November 6, 2019 Anatoly Pechatnikov, Deputy CEO of Russia’s second biggest lender VTB, said that the bank plans to integrate Bank Vozrozhdenie in May 2020, Zapsibkombank in August and Sarovbusinessbank in November. VTB acquired 85% in Bank Vozrozhdenie in October 2018 and raised the stake to 96.3% in February 2019. VTB got 71.8% in Zapsibkombank and 81.108% in Sartovbusinessbank in January. Sistema says unit buys back RUB 138 mln worth of shares On November 6, 2019 it was reported that Sistema Finance, a unit of Russian multi-industry holding Sistema, bought back 9.543 mln common shares worth RUB 138 mln. Sistema Finance purchased a total of 94.63 mln of Sistema’s shares since the launch of RUB 3 bln buyback program on September 17. Safmar unit sends buyout offer on Kuzbass Fuel Company shares to central bank On November 7, 2019 it was reported that Kilton Overseas Limited, part of group Safmar, which unites assets of the Gutseriyev family, on November 6 sent to the central bank an offer to buy out 53.460 mln 1 shares of Kuzbass Fuel Company from the minority shareholders. In October, Kilton purchased a 27.24% stake in Kuzbass Fuel Company from investment fund Prosperity Capital Management Limited with USD 82.9 mln. Kommersant business daily reported in May that Gutseriyev and partners received control over 67% of Kuzbass Fuel Company. In particular, Mikhail and Said Gutseriyevs bought 18.9% in the company through Cyprus-based Kilton, Rontelor Holdings Ltd, and Hemfield Finance Ltd. A spokesperson for Safmar confirmed to the daily that the shareholders of the group became the owners of the stake. MOEK cuts RUB 5 bln bond coupon guidance to 6.8–6.9% On November 7, 2019 a banking source said that Power utility Moscow United Energy Company (MOEK) reduced the coupon guidance for RUB 5 bln 6-year exchange bonds to 6.8–6.9% annually. The new guidance corresponds to a 6.92–7.02% annual yield to a 3-year put. The initial coupon guidance was set at 7.00–7.15%, which corresponded to a 7.12–7.28% annual yield to 3-year put. The issue carries semiannual coupons. The technical placement is preliminarily scheduled for November 15. Gazprombank, VTB Capital, Credit Bank of Moscow and Sberbank CIB are the organizers. Dividends/coupons Sberbank not to discuss raising dividends from 50% of net profit On October 31, 2019 Alexander Morozov, First Deputy CEO of Russia’s biggest lender Sberbank, stated that the bank saw no possibility to discuss an increase of dividends, because the current level of 50% of the net profit under International Financial Reporting Standards (IFRS) was good. The current dividend policy of the bank envisages 50% of the IFRS net profit in dividends if capital adequacy is at least 12.5%. M.Video-Eldorado board recommends RUB 33.37 per share in January–September 2019 dividends On November 1, 2019 the board of directors of Russian household appliances and electronics retailer M.Video-Eldorado recommended paying RUB 33.37 per share in dividends for January–September for the first time since 2016. The record date was set for December 16. M.Video paid RUB 4.854 bln in dividends for 2014 and RUB 3.595 bln in dividends for 2015 and paid no dividends for 2016–2018. The company is part of Mikhail Gutseriyev’s Safmar Group. Lenta not to pay dividends in 2020, mull dividends policy later On November 1, 2019 Rud Pedersen, CFO of Russian retailer Lenta, said that the company did not plan to pay dividends in 2020. The company has not yet defined its dividend policy and first needs to simplify its holding structure. The discussion will be held next year. Detsky Mir may pay RUB 5.06 per share in dividends for January–September 2019 On November 5, 2019 the board of directors of Russian children goods retailer Detsky Mir recommended paying RUB 5.06 per common share, or a total of RUB 3.739 bln, in dividends for January–September. The record date for the dividends is set at December 17. The company previously paid RUB 4.39 per share, or a total of RUB 3.2 bln, in dividends for January–September 2018; and RUB 4.45 per share, or a total of about RUB 3.3 bln, in final dividends for 2018. Multi-industry holding Sistema owns 52.1% in Detsky Mir, while the Russia–China Investment fund has 14%, and free-float is 33.9%. VTB holders approve paying RUB 0.00018 per preferred share in dividends On November 5, 2019 shareholders of Russia’s second biggest lender VTB Bank approved paying RUB 0.00018 per preferred share of the type 1 in dividends from the undistributed net profit for previous years. The record date was set for November 14. The bank’s preferred shares of the type 1 are owned by the Finance Ministry. Rosseti can pay 75% of RAS net profit in dividends from 2020 On November 6, 2019 it was reported that Russian state power grid holding Rosseti could raise the dividend payment to 75% of the net profit under Russian Accounting Standards (RAS) from 2020. The company had already submitted a draft new dividend policy to the Energy Ministry. In case of a RAS net loss, the policy envisages interim dividends for January–March, January–June or January–September. The current dividend policy envisages payment of 50% of the net profit less financial support of affiliates, investment from the net profit and the part of the net profit received from connection of new clients to the grids. Acron board recommends RUB 101 per share in dividends for January–September 2019 On November 6, 2019 the board of directors of Russian fertilizer producer Acron recommended paying RUB 101 per share, or a total of RUB 4.094 bln, in dividends for January–September. December 11 is 2 recommended as a record date. The decision is subject to approval by an extraordinary general meeting of shareholders scheduled for November 29. Mostotrest board recommends RUB 11.29 per share in January–September 2019 dividends On November 6, 2019 the board of directors of Russian construction company Mostotrest recommended paying RUB 11.29 per share, or a total of RUB 3.186 bln, in dividends for January–September. The company’s net profit in the period stood at RUB 4.958 bln. The shareholders will consider the recommendation at an extraordinary general meeting on December 12. The record date was set for December 23. Mostotrest did not pay dividends for 2018. Arkady Rotenberg controls 94.2% in the company through TFK-Finance, and the rest is free-float. Please be advised that the information presented in this newsletter is based on the following sources: National Settlement Depository (NSD); Clearstream Banking; Euroclear Bank; PRIME-TASS information agency; “Kommersant”, "Rossiyskaya Gazeta”, “Izvestiya, "Vedomosti”, “The Moscow Times“ newspapers, and others. For more information kindly contact: Anna Enfiandzhiants Evgenia Makarova Julia Dombrovskaya T +7 (495) 783 13 91 T +7 (495) 783 13 64 T +7 (495) 783 13 15 F +7 (495) 783 13 89 F +7 (495) 783 13 89 F +7 (495) 783 13 20 E [email protected] E [email protected] E [email protected] This document has been prepared exclusively for internal use of VTB Bank (PJSC) customers.
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