Russia’s Novorossiysk Grain Plant sets IPO price at 512 rbl/share

MOSCOW, Dec 15 (PRIME) -- Russia’s Novorossiysk Grain Plant has set the price of its initial public offering (IPO) at 512 rubles per share, the company said in a press release Tuesday.

The price range was earlier indicated at 444–518 rubles per share. Based on the IPO price, a 10.8% stake in the company is estimated at 3.74 billion rubles, while the entire company is estimated at 34.61 billion rubles.

In mid-November, one of the company’s shareholders, Belcarra Services, said it will offer its 10.79% stake during the IPO.

Other major shareholders of the plant include United Grain Company with 51% and businessman Ziyavudin Magomedov’s Ivianto Services with 18.49%.

(70.2244 rubles – U.S. $1)

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