Report: Russia’s En+ Group invites banks to hold $1 bln SPO

MOSCOW, Feb 14 (PRIME) -- Russia’s En+ Group has invited international banks to organize a U.S. $1 billion secondary public offering (SPO), Reuters reported on Wednesday quoting three sources.

One of the sources said that participation of some banks that organized the company’s initial public offering (IPO) in London in November 2017 is now doubted because of the Kremlin Report, which includes En+ Group’s owner Oleg Deripaska.

En+ declined to comment, while Deripaska’s representative declined to comment on market rumors.

En+ Group’s IPO comprised the sale of 107.14 million global depositary receipts (GDRs) at U.S. $14 per security.

The Daily Telegraph reported last week that MI6 is concerned with the permit to hold the placement because Deripaska has links to the military industry and President Vladimir Putin.

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