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.

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.


… 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