Russian bank's disappointing IPO may sour investment climate

MOSCOW. (Anatoly Gorev for RIA Novosti) – Russia's state-controlled foreign trade bank, Vneshtorgbank (VTB), the second largest credit institution in the country in terms of assets and equity, began its IPO early this week with a painful flop: its quotations fell below the placement price during the July 30 trading day.

RIA Novosti // Aug. 01, 2007 - 11:25 GMT