Russian bank VTB prices GDR shares at $6.25

MOSCOW: Russian bank VTB has priced its secondary public share offer at $6.25 per global depositary receipt (GDR), the RIA news agency said on Sunday quoting a market source.

"The book is two times oversubscribed. The price (of the offering) is close to a market price and is $6.25 per GDR," the agency quoted the source as saying.

VTB, Russia's second-largest bank, which is seeking to sell 10 percent of the state's holding for about $3.3 billion, on Friday, was guiding investors towards the $6.25 according to a banking source.

VTB's existing GDRs were trading at $6.28 on Friday.