Inarctica to offer 3.3 mln shares at 900–968.5 rbl/shr Thu–Nov 29

MOSCOW, Nov 23 (PRIME) -- Russia’s largest aquaculture company Inarctica, previously known as Russian Aquaculture, plans to offer around 3.3 million shares at 900–968.5 rubles per share during a secondary public offering (SPO) on the Moscow Exchange from Thursday through November 29, the company said in a statement.

The offer accounts for about 4% of the total amount of shares. The final placement price should not exceed the market price on the final day of the SPO, but it will remain within the price range. The SPO could be concluded ahead of schedule by the decision of the selling shareholders, Inarctica said.

As a result, the company’s free-float should rise to at least 18%. The company plans to spend the money raised through the SPO on business development.

(88.1648 rubles – U.S. $1)

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