Support The Moscow Times!

Alrosa Eyes Share Sale

Alrosa plans a share sale that could value the business at up to $15 billion and raise hundreds of millions of rubles for its local and national government owners.

The issue, which the Russian government has been promising since the mid-2000s, would be carried out on the Moscow bourse in October or November, chief executive Fyodor Andreyev said on Thursday after a meeting with President Vladimir Putin.

"The sale of a 14 percent stake on the Moscow stock exchange is a base-case scenario," he said.

The company wants to attract a wide range of investors and avoid the entry of a large strategic shareholder, Andreyev said. Final approval of the deal is expected by June 25.

Alrosa's valuation is seen in a range of $9 billion to $15 billion, Andreyev added.

(Reuters)

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.