Russian SovComBank announced that its majority shareholder Sovco Capital Partners and some key managers have cut their stakes in the capital in favour of “institutional and retail investors”. This has cut the share of Sovco Capital Partners and other shareholders holding 5% or more of the bank’s shares to less than 90%, while the freefloat was increased from 5% to 10%. As followed by bne IntelliNews, the bank is in focus as it prepares to take over the Home Credit Finance Bank (HCF), following the first banking IPO since 2015. SovComBank was one of the first banks to come under full blocking s…