Source: Russia’s Rusagro places GDRs at $15 per security at SPO

MOSCOW, Apr 28 (PRIME) -- Russian agricultural holding Rusagro has sold global depositary receipts (GDRs) at U.S. $15 per security during a secondary public offering (SPO), a banking source told PRIME late Wednesday.

The price guidance stood at $15–15.5 per GDR.

Rusagro planned to raise about $250 million for its investment projects at the SPO.

The bid book closed on Wednesday, and the details will be announced on Thursday.

JP Morgan, UBS and VTB Capital acted as the book runners and coordinators of the placement.

The family of Vadim Moshkovich own about 75% in the company, CEO Maxim Basov holds 7%, 1.8% are treasury shares, and 16% is in free float.

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