Source: Minority owner of PIK Group sells 2% in company

MOSCOW, Oct 10 (PRIME) -- Firlibia Holdings, a minority shareholder of Russian real estate developer PIK Group, whose beneficiary is Mark Rhodes, is selling about 13 million shares in the developer, or an about 2% stake, on the secondary market through an accelerated bookbuilding, a financial source told PRIME late on Wednesday.

The placement price guidance was defined as the market price. PIK Group’s shares lost 2.53% to 385 rubles per paper on Wednesday on the Moscow Exchange, valuing the stake at U.S. $77 million.

J.P. Morgan, VTB Capital, and Gazprombank act as the organizers.

(65.0976 rubles – U.S. $1)

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