VTB statement on EN+ IPO


The IPO of EN+ was an absolutely transparent transaction executed in full compliance with the necessary market requirements. It became the largest IPO in the Metals & Mining sector in the world since 2011.

11 investment banks, 7 of them were international ones, including 4 banks from USA, 2 from Switzerland and 1 from France, - participated in the preparation and execution of the deal, and the shares were placed mostly among international investors from a range of different regions, including US, Europe, Middle East and Asia.

IPO prospectus was approved by the FCA, and the listing was approved by the LSE. As for VTB, the bank became a shareholder of EN+ in 2011, long before sanctions.

VTB group conducts all its operations in full compliance with applicable rules and regulations including restrictive measures imposed by domestic or foreign organisations and governments. Allegations that paying out debt owed to VTB with the funds from EN+ IPO supposedly breached the sanctions regime are unfounded and absolutely false, since these financial transactions are not restricted by sanctions.