JP Morgan has been appointed co-underwriter on Sberbank's $7.6bn (€5.8bn) additional share issue, after working on the Russian bank's $1.5bn syndicated loan last year and oil company Rosneft's landmark $10.4bn initial public offering in July.

JP Morgan will work with Credit Suisse on state-owned Sberbank's additional $7.6bn domestic share offering in February, prior to its $8.5bn London float due in May, according to Russian daily Vedomosti.