Russian Railways Offers Bank Shares for Sale

TransCreditBank is to sell 3.5% of Ural Transport Bank’s shares by auction on December 16, 2011. This shareholding belongs to Russian Railways Public Company, the bank’s website states.

The opening bid was set at 36.8m RUR. Applications can be submitted between October 31 and December 5, Interfax-Ural reports.

Russian Railways is reported to have 9.3% of the bank’s shares altogether.