Source says Russia’s ALROSA bid book filled, bids still accepted

MOSCOW, Jul 8 (PRIME) -- A bid book for a secondary public offering (SPO) of Russia’s uncut diamond mining giant ALROSA is filled and organizers continue to receive bids, a source close to the deal told PRIME late Thursday.

“The bid book is filled, they keep on accepting bids, the price range has not been announced,” the source said.

The government opened the SPO bid book for a 10.9% stake in ALROSA on Wednesday and is expected to close it on Friday. Economic Development Minister Alexei Ulyukayev said then the funds raised in the sale of the stake will be used in state budget spending.

Ulyukayev also said the government will not make any decisions on additional sales of shares in ALROSA within 180 days after the price announcement for the 10.9% interest.

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.

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