Support The Moscow Times!

Alrosa to Switch Shares

Alrosa may allow shareholders to exchange one share for more than 27,000 with a lower face value to boost the "investment attractiveness" of the diamond miner and ease investor access to the stock, company spokesman Andrei Polyakov said Friday.

Alrosa, the world's biggest diamond miner by output, plans to raise as much as $3 billion in an initial public offering of shares next year, chief executive Fyodor Andreyev said in March.

While Alrosa shares currently have a face value of 13,500 rubles ($478) each, they trade unofficially for about 350,000 to 800,000 rubles apiece, he said.

(Bloomberg)

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

As we approach the holiday season, please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world’s largest country.