Russian Aquaculture — Russia’s largest aquaculture company — has announced a price range for a second share offering of common shares from which it expects to raise up to €28.6 million (RUB2 billion).
The new share issue of between 14 million and 18 million shares has been registered with the Central Bank of Russia. The price range for the offering has been set at between RUB 110 and RUB 140 per share, or far lower than than its trade price earlier of between 160 and 170 RUB. An average weighted share was expected in middle of the offered range.
“Russian Aquaculture’s major shareholders are confident in the long-term growth of the company and are committed to maintaining its public status,” a statement said.
As a result of the offering, the company’s free float is expected to increase to as much as 23 percent of its total share capital.
Otkritie Bank and Gazprombank are acting as the joint global coordinators and bookrunners for the offering. Otkritie Bank is also acting as the broker for the offering.
