The department of state property and land resources of Russia’s Nizhni Novgorod Region on April 4 will hold an auction to sell the state-owned shareholding in ELLIPS BANK (Nizhni Novgorod). A total of 500,000 ordinary inscribed shares, representing 0.33% of the bank equity capital, will be put on sale. The initial cost of the package is R487,000. Shares will be sold because the regional government regards it too small.
Source: NTA POVOLZHYE, March 15, 2006
