PRESS: Russia may sell 10.9% in ALROSA for 57 bln rbl – sources

MOSCOW, Jul 4 (PRIME) -- The Russian government can sell a 10.9% stake in uncut diamond monopoly ALROSA for 57 billion rubles, Kommersant business daily reported Monday citing sources.

The government is currently discussing placing ALROSA’s shares at 71 rubles per share during a second public offering (SPO). The company’s shares traded at 68.5 rubles on the Moscow Exchange on July 1, 72–73 rubles in May, and at 70 rubles on average in June.

OppenheimerFunds, Lazard è Genesis, which have minority stakes in ALROSA, are ready to buy shares worth around $150 million each and get another 1.84% stake in the company each. Other shares could be bought by private pension funds and other funds, sources said.

Another source said that “a wide circle of foreign and Russian institutional investors” are interested in ALROSA’s shares.

(64.0165 rubles – U.S. $1)

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