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UPDATE 4-Russia's Trust Bank to sell 9.1% stake in VTB

(Adds possible price of the deal)

MOSCOW, May 18 (Reuters) - Russia’s Trust Bank plans to sell its 9.1% stake in the country’s second-largest lender VTB via an accelerated book building (ABB), one of deal organisers said on Tuesday.

The sale is part of the central bank’s efforts to recover funds spent on bailouts of other banks since 2017. VTB itself was not part of that rescue programme.

Trust Bank plans to sell up to 1.18 trillion shares in VTB, Citigroup said in a statement. Citigroup, J.P. Morgan and VTB Capital are joint global coordinators and bookrunners for the deal.

The shares are expected to be sold at 0.0427 roubles per share, with a 9% discount to the market price, one bookrunner said. The books have been closed.

At that price, the 9.1% stake in VTB would be worth 50.4 billion roubles ($685 million), according to Reuters calculations.

Trust Bank holds non-performing assets left from three private banking groups taken over in a state bailout. Its stake in VTB was originally held by the Okritie banking group, which was the first to be bailed out.

VTB will not receive any proceeds from the deal.

Its Moscow-listed fell after the statement and were down 4.6% on Tuesday evening. ($1 = 73.5852 roubles) (Reporting by Polina Devitt; additional reporting by Olga Popova; editing by David Goodman and David Evans)

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