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VTB Capital sells shares in Luxoft

VTB Capital has sold its stake in Luxoft Holding in a secondary public offering on the New York Stock Exchange. The offering was more than 3 times oversubscribed and attracted high quality institutional demand from US and European investors.

PRESS RELEASE

VTB Capital announces today the completion of the sale of its stake in Luxoft Holding, Inc. (“Luxoft”) (NYSE:LXFT) in a secondary public offering on the New York Stock Exchange. VTB Capital has sold 2,800,000 Class A ordinary shares held by its direct subsidiary, Rus Lux Limited, at US $34 per share. The offering was more than 3 times oversubscribed and attracted high quality institutional demand from US and European investors. VTB Capital was one of the joint bookrunners for the offering.

Luxoft is a leading provider of software development services and innovative IT solutions for a global client base consisting primarily of large multinational corporations. VTB Capital acquired its stake in Luxoft in June 2012. Following completion of this transaction, VTB Capital will not hold any shares in Luxoft.

Tim Demchenko, Global Head of Private Equity and Special Situations at VTB Capital, said: “Luxoft is VTB Capital’s second successful private equity investment in the sector of IT outsourcing services. In 2010 we invested in EPAM Systems Inc. (NYSE:EPAM), which we exited in 2012. As with EPAM Systems, the Luxoft investment has generated impressive investment returns, resulting in a gross internal rate of return in excess of 50% for VTB Capital. We are grateful to the Luxoft management team and shareholders and wish them continued growth and success. In the meantime, we will continue to look for attractive investment opportunities in the IT sector.”

VTB Capital, the Investment Business of VTB Group, is one of the three strategic business arms of VTB Group, along with the corporate and retail businesses. Since its foundation in 2008, VTB Capital has taken part in more than 460 ECM and DCM deals, which were instrumental in attracting more than USD 189bn worth of investments to Russia and CIS.

VTB Capital offers a full range of investment banking products and services to Russian and international clients, focusing on arranging operations in the debt, equity, global commodities markets, developing investment and asset
management, advising clients on M&A and ECM deals in Russia and abroad. VTB Capital operates in Moscow, London, Singapore, Dubai, Hong Kong, Sofia, New York, Paris and Vienna, with headquarters in Moscow.

VTB Capital holds top positions in the debt and equity capital markets in Russia and CIS according to the league tables for 2011and 2012 by Dealogic and Bloomberg. In 2011 and 2012 VTB Capital research team was ranked #1 in Thomson Reuters Extel Survey and Institutional Investor All-Russia Investor Survey.

This press-release does not constitute an offer to the public or an advertisement of securities in the Russian Federation, is not an offer or an invitation to make offers, to purchase securities in the Russian Federation and must not be passed on to third parties or otherwise made publicly available in the Russian Federation.

Press Office

Vadim Bely
Vadim.Bely@vtbcapital.com

Julia Govorun
Julia.Govorun@vtbcapital.com