VTB Capital Sells Shares in Russia-based Luxoft in NYSE Follow-on Offering (CEE and CIS)

Source: VTB Capital

VTB Capital, the investment arm of Russia-based VTB Group, has completed the sale of its stake in Russia-based Luxoft Holding, a provider of software development services and IT solutions, in a secondary public offering on the New York Stock Exchange (NYSE) that was more than three times oversubscribed. VTB Capital sold 2.8 million Class A ordinary shares held by its direct subsidiary, Rus Lux, at US$34 per share, for a total transaction value of US$95.2 million. VTB Capital acquired its stake in Luxoft in June 2012, and reportedly exited with a gross internal rate of return in excess of 50 percent.