AK Alrosa OAO Announces Initial Public Offering
AK Alrosa OAO (ALROSA) announced its intention to proceed with an offering (the Offering) of ordinary shares (the Shares) admitted to trading on the A1 quotation list of CJSC MICEX Stock Exchange (MICEX SE), a subsidiary of the Moscow Exchange, under the ticker symbol ALRS. The Offering will be part of the on-going privatization program in the Russian Federation (RF) and will involve the sale of the Shares by the RF and the Republic of Sakha (Yakutia). The RF will offer up to 515,547,593 Shares representing approximately 7% in ALROSA's share capital. OJSC RIC Plus, wholly-owned by the Republic of Sakha, will offer up to 515,547,593 Shares representing approximately 7% in ALROSA's share capital. Wargan Holdings Limited, a company controlled by ALROSA, will offer up to 150,237,555 Shares representing approximately 2% in ALROSA's share capital. The net proceeds of the Offering to be received by ALROSA from the Shares sold by Wargan Holdings Limited will be used to repay existing debt. Branch office of Goldman Sachs (Russia) is acting as agent (poverenny) in the name and on behalf of the RF in connection with the sale of the Shares by the RF and is providing services as organizer of the sale of the Shares by OJSC RIC Plus. Goldman Sachs International, J.P. Morgan Securities plc, Morgan Stanley & Co. International plc and VTB Capital are joint global coordinators and joint bookrunners of the Offering. Renaissance Capital is a joint bookrunner of the Offering.
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