MOSCOW, April 19 PIK Group, one of
Russia's largest homebuilders, may raise around $300-$350
million via an additional share offering next month depending on
market conditions, said two sources familiar with the plans and
one source close to a shareholder.
The company, in which Suleiman Kerimov's investment vehicle
Nafta Moskva owns a 38.3 percent stake, may announce these plans
after publishing its annual report later in April, one of the
Spokesmen for PIK and Nafta declined to comment. Nafta's
spokesman has previously told Reuters that the company plans to
buy shares during PIK's offering.
The new share sale is need to reduce PIK's debt which stood
at 37.1 billion roubles ($1.2 billion) at the end of last year.