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Path to FTSE Clear for Evraz

By The Moscow Times

Steelmaker Evraz is to move ahead with a premium London listing and potential entry to the prestigious FTSE 100, after its exchange offer received acceptances from 98 percent of shareholders.

The company will begin trading its London-listed shares when the market opens at 8 a.m. GMT on Monday.

Under Evraz's share swap, shareholders will receive nine new shares for each existing share they now own. Morgan Stanley and Credit Suisse are acting as joint sponsors to Evraz. Roman Abramovich owns a 35.32 percent stake in the company, according to its press release.

(Reuters)

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