National Bank Trust plans to sell its 9% stake in VTB Bank (public joint-stock company) (LSE:VTBR) via an accelerated book building in March, financial market sources said. The sale of the stake, with a current market value of RUB 43 billion ($564 million) based on Refinitiv Eikon data, is part of the central bank’s efforts to recover funds spent on the bailouts since 2017. Two financial market sources said that Trust is actively preparing the sale of its stake in VTB and is currently choosing banks to arrange the deal. Two other sources said that the deal is planned to be in the form of an accelerated book building, whereby order books open for a short period of time in an effort to prevent sharp fluctuations in the share price. The deal is now planned for March, the sources said. VTB Capital, Citi and JP Morgan are expected to arrange the sale although the list has yet to be finalised, another source added. VTB Capital, the investment-banking arm of VTB, told Reuters that “if Trust makes a decision to sell the VTB stake, VTB Capital . would be ready to take part in the deal.” Trust and JP Morgan declined to comment. VTB, Citi and the central bank did not reply to Reuters requests for comment. The central bank plans to sell all or parts of Otkritie via an initial public offering or direct sale in 2022, and has started looking for potential investors.