RIA Novosti. Oleg Tinkoff, CEO of Russia-based Tinkoff Credit Systems Bank, does not rule out delisting the bank’s shares on the London Stock Exchange.
“If the stock looks as it does at the moment, we reserve the right to delist the shares and turn the bank private," he said.
Last October the bank, which is controlled by businessman Oleg Tinkoff, staged a large-scale IPO, netting around $1.09 bln. Since the IPO the bank’s stock has declined several times in value.
“We’ll keep a close eye on the situation throughout 2015 and, if need be, we’ll make such a decision, I’ll decide so," said the businessman.
“Because this is business…If investors do not trust me, my team, if they do not value that we’ve been doing, I reserve the moral right to turn the bank back into a private venture because I love it, it’s a profitable company. This is my company and I’ll do my utmost, even at the present tough times, to reap up hefty gains, but our efforts are not appreciated, I have this tool in my hands. I respect the choice of theirs (investors) and the opportunity, and I also do have the opportunity, and I can also act reasonably," Tinkoff pointed out.
“Whether I will do this or not, I don’t know, time will tell. Over the next few quarters we’ll be monitoring the situation, but I have such an option," he added.
