Support The Moscow Times!

Global Ports Raises $534M

Global Ports Investments, which handles more than a quarter of fuel exports from Russia, raised $534 million in an initial public offering of Global Depositary Receipts in London. The GDRs sold at $15 each, it said in a statement Friday, valuing the company at $2.35 billion.

Global Ports, owner of terminals in St. Petersburg and Russia's Far East, sold $100 million of new shares in the offer, and the billionaires divested the rest, according to the statement. Deutsche Bank, Goldman Sachs Group, Morgan Stanley and Troika Dialog managed the sale. The offering may increase to $588 million if an over-allotment option is fully exercised.


Read more

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

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.