Russia's Tinkoff Credit Systems seeks $750 mln listing

Reuters

MOSCOW, Oct 2 (Reuters) - Russian credit card supplierTinkoff Credit Systems is aiming to raise $750 million throughan initial public offering, a source close to the placement saidon Wednesday.

Four financial market sources had earlier told Reuters thatthe placement is expected on Thursday, though they did notprovide further details.

TCS, founded and run by entrepreneur Oleg Tinkov, has beenlooking for outside funding to help to finance the company'sgrowth plans.

A source close to the matter said in June that the creditcard supplier had selected Goldman Sachs, JP Morgan, Morgan Stanley, Sberbank CIB andRenaissance Capital as organisers.

TCS was not immediately available for comment on Wednesday.

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