OREANDA-NEWS. April 16, 2007.  Analysts have valued Russia's No.2 bank, state-run VTB, at between $30 billion and $35 billion according to consensus estimates ahead of its planned May IPO in London, a banking source close to the offering said on Friday.

The consensus average was drawn from valuations which ranged from $25 billion up to $40 billion, other banking sources told Reuters. VTB will be the first Russian bank to list in London where bankers say it is seeking to raise up to $6 billion.

Citigroup, Deutsche Bank and Goldman Sachs are joint global coordinators for the IPO, together with Renaissance Capital as joint book runners.