So, that happened. The brainchild of Oleg Deripaska – the company En + Group Plc has officially announced the beginning of the IPO procedure. We recall that IPO means the first public shares placement on the stock exchange for a wide range of individuals. In the case of Deripaska’s company, IPO will take place on the London Stock Exchange. Experts have estimated that the sales volume will be approximately one and a half billion US dollars.
Some details of the future procedure became known from the press release published by En +. Thus, GDR (global depositary receipts) for existing shares will be sold by Basic Element Limited and B-Finance Limited. The funds raised from IPO will be used first of all for the repayment of the company’s debt.
The anchor investor of the company En + also became known. It is the Singapore company AnAn Group (Singapore) Pte. Ltd, which intends to invest about half a billion dollars in En +. Keeping in mind that more than half of this company belongs to the Chinese concern CEFC, then in this way the Chinese are clearly declaring their strategic interests in Russia.
This is the second serious investment by the Chinese in Russia. A month earlier it became known that the CEFC concern had acquired about 14% of the shares of the Russian oil and gas company NK Rosneft.
The following companies helped to organize the initial public offering of En + shares: VTB Capital, Gazprombank, Citigroup, Credit Suisse, J.P. Morgan, Merrill Lynch, Sberbank CIB, BMO Capital Markets and others.
We recall that the company En + Group, owned by Oleg Deripaska, is the main shareholder of the holding RUSAl and owns such companies as Eurosibenergo, Soyuzmetallresurs, logistics companies and some other assets.
The material was prepared with the participation of Andrey Majorov,
a leading analyst of the brokerage company CT Trade