UPDATE: Russia’s Rusagro raises $250 mln during SPO

(Rewrites throughout to add latest data)

MOSCOW, Apr 28 (PRIME) -- Russian agricultural holding Rusagro has raised U.S. $250 million during a secondary public offering (SPO), selling 16.67 million global depositary receipts (GDRs) at $15 per security, the company said in a statement on Thursday.

Shiny Property Limited, owned by key shareholder of Rusagro Vadim Moshkovich, bought GDRs, whose combined value is estimated at $99.6 million, and CEO of Rusagro Maxim Basov purchased GDRs worth about $17.5 million.

After the deal, the company’s free float will stand at about 20.7%, Rusagro said.

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

Before the SPO, the family of Moshkovich owned about 75% in the company, Basov held 7%, 1.8% was treasury shares, and 16% was in free float.

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