Source: Russia to collect bids for 10.9% in ALROSA until Friday

MOSCOW, Jul 7 (PRIME) -- The Russian government will collect bids for a 10.9% stake in uncut diamond mining giant ALROSA until Friday, a source familiar with the placement told PRIME late Wednesday.

The stake will be sold through a secondary public offering (SPO) on the Moscow Exchange. The bidding book was opened on Wednesday.

“The bidding book will be opened until Friday,” the source said.

The sales price will be approved and announced after the closure of the bidding book, a spokesperson for Sberbank CIB, one of the placement’s organizers, told PRIME.

On Wednesday, ALROSA’s shares fell 1.28% to 68.71 rubles per share on the Moscow Exchange.

The Federal State Property Management Agency holds 43.93% in ALROSA, the government of the republic of Yakutia holds 25% plus one share, 8% is distributed among eight Yakutia’s regions, and 23.07% is in free-float.

(64.6304 rubles – U.S. $1)

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