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Suleiman Kerimov got $ 390 million when he sold 5.13 million shares

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Suleiman Kerimov got $ 390 million when he sold 5.13 million shares
April 05
09:00 2019

The largest gold-mining Russian company Polyus made the secondary placement of shares at the price of $ 38 per GDR. The volume was greater than originally planned. PGIL has sold 5.13 million shares, although initially it was said about 4.67 million. The shareholder will receive about $ 390 million from this placement.

The number of Polyus shares, which are in the circulation after SPO, has increased to 20.5%. Suleiman Kerimov’s share has decreased to 78.6%

It was not difficult to predict the price of the placement. On Wednesday, organizers reported that applications less than $ 38 were likely to not be satisfied.

The sale price of GDR is equal to the discount of 6.6% relatively to the closing price on Wednesday – $ 40.7. According to the rate of the Central Bank of the Russian Federation, the offering price for ordinary shares amounted to 4952.5 rubles. The discount of local shares is slightly higher – 6.9%. These data were made public on 4th April.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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