Goldman Sachs says Severstal shares sold for 885.35 rbl/share

MOSCOW, Nov 9 (PRIME) -- Shares of Russian steelmaker Severstal were sold for 885.36 rubles per paper and its global depositary receipts (GDRs) for U.S. $14.97 per security, organizer of the deal Goldman Sachs said in a statement on Thursday.

On Wednesday, a source told PRIME that Pearlgreen Limited, a company of businessman Alexei Mordashov, has put up 2.1% of Severstal, or about 18 million shares and global depositary receipts (GDRs) for sale through an accelerated book building. So, the cost of the stake is estimated at 15.973 billion rubles or $270.07 million.

Goldman Sachs said that if all the shares are sold, Mordashov will hold about 77% in Severstal.

Severstal said in a statement that “the sale of shares should ensure certainty in our most demanding investors from the point of view of share liquidity, and it also may unlock additional value for all shareholders of the company.”

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