MOSCOW, May 28 (RIA Novosti) - Russia's MICEX bourse suspended trade in common stock of Russia's second largest bank VTB at 1:00 p.m. Monday after the share price leapt up on the first day of trade, a spokesman for the exchange said.
"Trading has been suspended due to a 54% rise in share price," the spokesman said.
This month, VTB has floated 1.513 billion shares at $0.0003 each in London and Moscow, representing 22.5% of its enlarged share capital. VTB common stock trading on the RTS and MICEX began Monday.
After the IPO in which the bank earned some $8 billion, the government's stake in VTB dropped from 99.9% to 77.47%.
