Belarusbank, London Stock Exchange ready to resume placement of securities

MINSK, 10 June (BelTA) – Belarusbank and the London Stock Exchange are ready to resume the placement of securities of the Belarusian bank, the Belarusbank press service told BelTA.

In late May 2013 a Belarusbank delegation led by Chairman of the Board Sergei Pisarik visited London. During the visit negotiations with representatives of influential financial institutions of the UK were held, including negotiations with representatives of the London Stock Exchange, the insurance corporation Lloyds, the insurance company Chesterfield Group, BNK UK, which is a daughter enterprise of Belarusian Oil Company in the UK, the investment bank Bank of Intesa Sanpaolo. Prospects of future cooperation were discussed.

The sides reached an agreement to resume relations with the London Stock Exchange. Back in 2007 Belarusbank carried out a presentation there, started preparations for an IPO and the placement of bonds. However, the global financial crisis of 2008-2010 and then the local foreign currency crisis of 2011 delayed these projects. As a result of the negotiations the sides expressed their readiness to resume the placement of Belarusbank securities, said the source. The insurance companies expressed readiness to cooperate in the area of insurance-linked investments.

Such visits contribute to the establishment of a positive image of the country and the bank at the international level, stressed the source.

Belarusbank’s history dates back to 1922. At present it is Belarus’ largest universal financial and credit institution, which offers over 100 kinds of banking services and products. OAO ASB Belarusbank is the parent organization of the banking holding company. The share of the Republic of Belarus in the bank’s authorized capital is 97.98%.

The London Stock Exchange is one of the largest and oldest exchanges in Europe and is one of the most recognized global stock markets. The official foundation date is 1801.