MOSCOW, Dec 15 (Reuters) - Sovcombank on Friday said it had raised 11.5 billion roubles ($128.4 million) in an initial public offering (IPO) on the Moscow Exchange, becoming the first Russian bank to list in more than eight years.
Sovcombank's market debut reflects a valuation of 230.5 billion roubles ($2.57 billion), it said, highlighting the currently limited scope of Russian public listings and the dominance of state-owned lenders in Russia's banking sector.
($1 = 89.5550 roubles) (Reporting by Elena Fabrichnaya; writing by Alexander Marrow; editing by Jason Neely)
