Support The Moscow Times!

Now is the time to support independent reporting from Russia!

Contribute Today

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.

(Bloomberg)

Read more

Russia media is under attack.

At least 10 independent media outlets have been blocked or closed down over their coverage of the war in Ukraine.

The Moscow Times needs your help more than ever as we cover this devastating invasion and its sweeping impacts on Russian society.