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ALROSA Share Sale Raises $820M, Report Says
Jul 11, 2016 3:52 AM
By Rapaport News
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RAPAPORT... Russia raised almost $820 million from its sale of a
10.9-percent stake in ALROSA, Reuters reported.
The government priced shares at $1.01 (65 roubles) each, a discount
of 3.8 percent to the closing price on Friday, according to the report, which
cited an unnamed source close to the placement. Officials had been targeting an
issue price of $1.11 (71 roubles) per share, the news agency cited the Russian
daily Kommersant as saying.
The Russian Direct Investment Fund, Russia’s sovereign
wealth fund, and its co-investors bought about half of the shares on offer,
Reuters said. These investors include sovereign funds in the Middle East and
Asia.
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Tags:
Alrosa, ALROSA privatization, moscow, privatization, Rapaport News, RDIF, Russiam Russian Direct Investment Fund
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