"ALROSA" goes to IPO

Fell it, it has become cheaper! The Alrosa diamond company announced that IPO was going to conduct an IPO.

“We hope that placement will help strengthen our unique positions in the global diamond production industry,” the company President Fedor Andreev said on this occasion.

The placement will be mainly carried out at the expense of state -press. The Government of the Russian Federation will part with 7% of capital, the Republic of Sakha (Yakutia) will be sold as much. 2% of the shares will go to the market from the Cyprus offshore Wargan Holdings Limited (controlled by the company itself). It is planned to place shares on the American site.

IPO coordinators - Goldman Sachs, JPMorgan, Morgan Stanley and VTB Capital. The book of applications will be maintained by Renaissance Capital.

The government has long wanted to privatize Alrosa and included the company in the list of complete privatization of the Federal Property Management Agency. But the authorities of Yakutia convinced the federals that it is impossible to sell the enterprise entirely, therefore the Russian Federation and the republic will eventually leave the blockpack, even when the sale ends (now Russia owns 51%, Yakutia - 32%).

At one time, Andreev publicly evaluated the company at $ 9-16 billion. ALROSA accounts for 25% of the world and 97% of Russian Almaz's production.

Against the background of a slight decrease in the MICEX index, after the news about the IPO during the morning, the company's shares increased by 1.5%.

Read also - the government discussed the final version of the privatization plan →