Astra says places shares at 333 rbl for 3.5 bln rbl under IPO

MOSCOW, Oct 13 (PRIME) -- Russian IT group Astra has sold shares at 333 rubles to raise 3.5 billion rubles in an initial public offering (IPO) with the priority given to small bids of retail investors, Astra said on Friday in a statement.

“The offer price was set by the company’s current shareholders…at 333 rubles per share, or at the upper end of the price corridor. The IPO at the share price translates into the company’s market capitalization of 69.9 billion rubles,” the company said.

“The offer comprised 10.5 million shares owned by the selling shareholders that totals 3.5 billion rubles at the IPO price, including 350 million rubles of shares for possible stabilization during secondary trading in the period of up to 30 days after the trading start.”

Astra said that total demand exceeded the offer by more than 20 times at the upper end of the price corridor, and the number of new investors topped 100,000 people. The free float will amount to 5% after the IPO.

General Director Ilya Sivtsev said that more than 1,400 employees of the company have become Astra’s shareholders.

(96.9948 rubles – U.S. $1)

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