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MOSCOW, January 30 (RIA Novosti) -- Vneshtorgbank (VTB) will determine the basic parameters for a part of the IPO to be floated among individuals within the next two to three weeks, a bank official said Tuesday.
Mikhail Zadornov, head of Vneshtorgbank 24, a subsidiary of the state-owned foreign trade bank, said the parameters will include minimum bids, as well as profits to be made on the IPO.
He said VTB does not intend to impose any restrictions on the IPO for individuals.
"There will be no artificial restrictions or impediments [to IPO placement among individuals]," he said, adding that the amount in question could be much higher than 5% of the total IPO.
