Mobile TeleSystems Public Joint Stock Company (MISX:MTSS) said on March 15, 2024 it planned to reduce its stake in the authorised capital of its fintech unit Public Joint-Stock Company "MTS Bank". MTS's stake in the bank's capital may fall to 80.55% from 99.82% as a result of an additional issue of 7.2 million shares in MTS Bank, MTS said in a statement. Four sources close to the matter told Reuters in February that MTS Bank planned to launch an initial public offering in spring 2024 and could raise up to RUB 15 billion ($161.99 million).