Report: As Almar readies for IPO, wife of Yakutia head buys 32%

MOSCOW, Dec 20 (PRIME-TASS).

MOSCOW, Dec 20 (PRIME) -- Diamond producer Arctic Diamonds (Almar) has held a 270 million ruble private subscription for its shares as it prepares for an initial public offering (IPO), and the wife of Yakutia republic’s head Lyudmila Nikolayeva bought a 32.37% stake to became the largest shareholder, Forbes reported on Monday.  

After the deal carried out on the St. Petersburg Exchange, the managers of the company acquired a 40.47% stake in it, bank Derzhava 4.77%, ITI Capital 6.67%, Polarctic Capital 8.09%, investment company Solid 7.63%.

The company plans to invest the raised funds to complete exploration of the placer diamond deposits for open-pit mining and confirmation of reserves of their deposits.

(73.7330 – U.S. $1)       

End %%mk/jst%%