VTB has announced the parameters for the conversion of preferred shares

VTB's preferred shares will be converted into ordinary shares according to the "nominal value to market" scheme, rather than "nominal value to nominal value," said Dmitry Pyanov, deputy chairman of the bank. Such a scheme will increase the state's share from 50.1% to 74.45%, rather than more than 80%. Amendments to the legislation will be adopted for its implementation. The relevant draft law with amendments to the "special" laws 173-FZ and 351-FZ, which in 2014-2015 regulated the issuance of two types of "prefs", has been submitted to the State Duma today.