Russian aquaculture anounces intention to conduct secondary public offering of shares

Alex Whitebrook/ November 10, 2017/ Press release/ 0 comments

Moscow, 9 November 2017. Russian Aquaculture (“Russian Aquaculture” or “the Company”), Russia’s largest aquaculture company, announces its intention to conduct a secondary public Offering (the “Offering”) of new ordinary shares of the Company (the “Shares”)

DETAILS OF THE OFFERING

  • Shares will be placed on Moscow Exchange
  • The Company has already registered the issue of 32,769,223 new shares with the Central Bank of the Russian Federation. This represents the maximum potential volume of shares to be placed, and a final decision on the size of the Offering will be taken following the marketing period.
  • Shareholders as of 10 July 2017 will have pre-emptive rights to purchase additional shares, proportional to the number of shares that they owned as of that date. These shareholders must announce the exercise of this right within eight working days following the Company’s announcement online of the ability to exercise pre-emptive rights to buy shares, at the following websites: http://www.e-disclosure.ru/portal/company.aspx?id=17531 and www.russaquaculture.ru.
  • The placement price will be determined by the Board of Directors of the Company, which will take into consideration an analysis of demand, and will be announced after the end of the period when shares may be purchased under pre-emptive rights. Pricing is expected to be announced before the end of November 2017.
  • Funds from the Offering will be used by the Company for general corporate needs and for implementation of the Company’s investment programme aimed at creating Russia’s leading aquaculture company
  • Russian Aquaculture’s core shareholders are committed to the long-term growth of the Company and do not currently plan to sell their shares.
  • Following the placement of the newly-issued shares, an additional independent director may join the Board of Directors to represent the interests of new investors
  • 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

Read more HERE.

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