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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.
Tags: Alrosa, ALROSA privatization, moscow, privatization, Rapaport News, RDIF, Russiam Russian Direct Investment Fund
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