Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Rusagro GDRs Priced Low

Sugar and pork producer Rusagro priced its London initial public offering at $15 per Global Depositary Receipt, toward the low end of an indicative range, it said Friday.

The price implies gross proceeds of $330 million, including $30 million worth of shares to be sold by majority shareholder Shiny Property. The company had set the price range for the London placement at $14.50 to $18.25 per GDR.

Rusagro, which is issuing new shares to fund expanding production and potential acquisitions, said the share offer would value the firm at $1.8 billion and give a market free float of 18.3 percent of its shares. The offering also includes a so-called greenshoe over-allotment option of a further 3 million GDRs. If the option is exercised, the free float will reach 20.8 percent.


… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more