Mixed results for Citigroup and UBS in Russia

Citigroup and UBS are to postpone the initial public offering of Russian pharmaceutical company Pharmstandard, despite success with Russian steelmaker Severstal's $1.1bn (€859.8m) float.

Joint bookrunners Citigroup and UBS pulled the float yesterday because Pharmstandard had to reassess its financial report before floating, according to Kommersant, the Russian business daily.

WSJ Logo
JPMorgan to Pay $330 Million Over 1MDB TransactionsExternal link

JPMorgan to Pay $330 Million Over 1MDB Transactions