UPDATE: Sistema, RCIF sell 6.3% in Detsky Mir for 4 bln rbl

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MOSCOW, Dec 12 (PRIME) -- Multi-industry holding Sistema and the Russia-China Investment Fund (RCIF) have sold 46.5 million shares, or 6.3% in Russia’s largest children goods retailer Detsky Mir, for 4.185 billion rubles, RCIF and Sistema said on Tuesday.

“RCIF and China Investment Corporation (CIC) took part in an accelerated book building of Detsky Mir. RCIF contributed into successful book building of Detsky Mir by attracting a number of leading international partners, including funds from China, Europe, the U.K., the U.S., and the Middle East,” RCIF said.

Sistema said the offering price was set at 90 rubles per share. Sistema agreed to sell 36.634 million common shares, accounting for around 5% of Detsky Mir, and will receive around 3.3 billion rubles from the sale before the deduction of relevant fees and taxes, the holding said.

Sistema will keep 47.1% in Detsky Mir and RCIF will have 12.7% after the deal, while the free float will reach 40.2%.

Detsky Mir’s shares fell almost 10% on reports about the deal, while Sistema’s shares grew by 1%, the Moscow Exchange’s data said.

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