State Duma adopted a law on the conversion of VTB preferred shares

State Duma immediately adopted in the second and third readings a bill that will allow VTB to convert preferred shares into ordinary shares according to the nominal value to market scheme, rather than nominal value to nominal value. Conversion ratio will be calculated as the ratio of the weighted average exchange price of ordinary shares for the previous year of ₽82.67 per paper and the nominal value of preferred shares.