RDIF, Middle Eastern funds anchor investors in Sovcomflot IPO

MOSCOW, Oct 7 (PRIME) -- The Russian Direct Investment Fund (RDIF) and partners from the Middle Eastern and Asian sovereign funds were the anchor investors during an initial public offering (IPO) of Russian shipping company Sovcomflot, the RDIF said in a statement on Wednesday.

"The RDIF and its partners from the leading sovereign funds of Middle East and Asia became the anchor investors during the IPO of JSC Sovcomflot and ensured success of the first IPO on the market in 2020," the fund said.

RDIF CEO Kirill Dmitriyev said as cited in the statement, "This is a brilliant case of a successful IPO of a Russian company which has the leading positions on the domestic and global markets."

Sovcomflot finished taking bids for the IPO on Tuesday. The initial price guidance ranged 105–117 rubles per common share and the final price stood at 105 rubles.

(78.5119 rubles – U.S. $1)

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