The propose stake sale, if priced at RUB100 per share, will reflect a 12% growth from Sberbank’s last share offering in 2007 of RUB89, which raised $9bn.
The disposal would reduce the Central Bank’s stake in Sberbank to a minimum majority from the existing 57.6%.
Initially, the sale was planned for autumn 2011, but was deferred due to unfavourable market sentiments and prices as well as last year’s sovereign debt crisis in Europe.
For the successful execution of the sale, Russia’s central bank has selected Credit Suisse, Goldman Sachs, Morgan Stanley, JP Morgan and Troika Dialog to facilitate the deal.
Europe’s second-largest Sberbank has a market capitalization of $76bn and posted a record RUB322bn ($10.9bn) in net profits for 2011 under Russian Accounting Standards (RAS), up 75% from 2010.
Sberbank acquired Moscow brokerage Troika Dialog last year for $1bn in order to broaden its businesses in the country.
The bank, which controls nearly half of Russian household deposits, closed the purchase of the east European arm of Austria’s Volksbank last month for $660m, and plans to earn at least 5% of profit through overseas operations by 2014.
