United Wagon Co raises 2 bln rbl via sale of 2.2% of share capital

MOSCOW, May 5 (PRIME) -- Russian rail car producer United Wagon Company has sold 2.6 million shares, or 2.2% of its increased share capital, during a secondary public offering (SPO) and has raised 1.9 billion rubles, the company said in a statement on Friday.

“More than 130 institutional and retail investors bought the shares. As a result, the company’s free-float increased to 21.05%,” the company said.

Renaissance Capital, BCS, ITinvest and Aton acted as co-bookrunners of the placement.

On April 26, the company’s board of directors set the placement price of the SPO at 720 rubles per share. On April 18, the company said it planned to issue up to 2.5 million common shares and offer them on the Moscow Exchange during the SPO.

Before the SPO, the major shareholders of United Wagon Company were ICT Holding Ltd., which owned a 25.05% stake through United Wagon Plc, other strategic investors with a combined stake of 54.16%, and the company’s top management with 0.96%. Free float amounted to 19.83%.

In 2016, United Wagon Company sold 6.9% of its increased capital during an SPO to raise 5 billion rubles. The company held the SPO at 640 rubles per share on the Moscow Exchange, and it allowed the company to raise its equity to 80 billion rubles.

(57.5714 rubles – U.S. $1)

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