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Russia fertiliser group Acron considers 20 pct share sale
February 25, 2013 / 10:52 AM / 5 years ago

Russia fertiliser group Acron considers 20 pct share sale

MOSCOW, Feb 25 (Reuters) - Russia’s Acron , one of Europe’s top 10 mineral fertiliser producers, may sell up to 20 percent of existing or new shares to investors as soon as market conditions allow, its main owner Viatcheslav Kantor said.

“We are ready to sell either shares of the main owner, or issue (new) shares of the company,” Kantor told reporters in Moscow on Monday.

Acron has assets and projects in Russia, China, Canada and holds a minority stake in Poland’s top chemical maker Tarnow .

“As soon as the market conditions allow, we will sell a minimum 10 percent and maximum 20 percent of our shares via an SPO (secondary public offering),” Kantor added.

He did not say how the company would use the money raised or if the share sale would take place in London or Moscow.

Acron listed its shares in London and Moscow in 2008. Its market capitalisation was around $1.9 billion at Friday’s market close, according to Thomson Reuters data. (Reporting by Andrey Kuzmin; Writing by Polina Devitt; Editing by Douglas Busvine and Jane Merriman)

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