En+ Group says makes no formal decision on holding SPO

MOSCOW, Feb 15 (PRIME) -- Russia’s En+ Group belonging to Oleg Deripaska has not made an official decision on holding a secondary public offering (SPO), the company said in a statement on the London Stock Exchange (LSE) on Thursday.

“In the ordinary course of business the company regularly reviews its optimal capital structure, and there are no formal decisions to perform a secondary public offering,” the statement read.

Reuters reported on Wednesday citing sources that En+ Group had invited international banks to organize a U.S. $1 billion SPO.

One of the sources said that participation of some banks that organized the company’s initial public offering (IPO) in London in November 2017 is now doubted because of the Kremlin Report, which includes Deripaska.

En+ Group’s IPO comprised the sale of 107.14 million global depositary receipts (GDRs) at $14 per security.

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