Russian aquaculture announces pricing of secondary public offering of shares

Alex Whitebrook/ November 30, 2017/ News/ 0 comments

Moscow, 30 November 2017. Russian Aquaculture (“Russian Aquaculture” or “the Company”), Russia’s largest aquaculture company, announces the pricing of its secondary public offering (the “Offering”) of new ordinary shares of the Company (the “Shares”) at RUB 120 per Share following the completion of over-the counter (“OTC”) bookbuilding on 29-11-2017. 

DETAILS OF THE OFFERING

  • The Company announces the pricing of the SPO at RUB 120 per Share following the completion of OTC bookbuilding on 29-11-2017.
  • The Company expects to raise around RUB 2 billion during the Offering, selling 16.7 million Shares that are part of the new share issue that has been registered with the Central Bank of Russia.
  • The Company’s free float will amount to approximately 22% of its total share capital.
  • Information about the timing of the bookbuilding and the placement date of the Shares will be disclosed by the end of this week.
  • The Offering is expected to be completed by mid-December 2017.
  • Otkritie Bank and Gazprombank are acting as the joint global coordinators and bookrunners for the Offering. Otkritie Bank is also acting as the broker for the Offering.
  • Russian Aquaculture CEO Ilya Sosnov said: “I think that the Board of Directors has set an attractive price that reflects the interests of both investors and the Company: investors will have the opportunity to benefit significantly from future growth of the business, while the Company will receive funds to invest in its expansion and attract high-quality investors whose involvement in the Company will have a long-term positive effect on the share price and equity story of Russian Aquaculture.

“This additional placement should also significantly increase the liquidity of the Company’s shares, which should reduce the volatility of the share price. The SPO marks an important step towards raising the Company’s valuation to be on par with its international peers.”

Read more HERE.

Leave a Comment

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>
*
*