“Is well, shareholders are very happy,” — said a source close to the placement, adding that the book is on the SPO was oversubscribed. Another source from the company confirmed that the additional share issue, as planned, managed to raise $250 million From the company has added more than 40 new investors, including Russian, European and American funds, he said.
Rusagro kontroliruya family of ex-Senator Vadim Moshkovich, 1.8 percent is owned by the group (Treasury shares), another 7% belongs to group CEO Maxim Basov. In free float on the London stock exchange prior to placement was 16.2% of the shares. According to Forbes, Moshkovich is a 38-th line in the rating of Russia’s richest businessmen with a fortune of $2.3 billion.
An additional issue in the form of global Depositary receipts shareholders “Rusagro” approved April 8, 2016, as a result, the company was able to post before the end of the year to 10 million new shares. Later, the company announced that it intends to raise $250 million
Previously, Rusagro reported that Moshkovich himself is going to participate in SPO and plans to buy receipts in the amount of about $100 million Similar plans were and Basov. Both refused to comment on the results of the placement. So did the IR Director of the company Sergey green chair.
The organizers of the SPO was organized by VTB Capital, JP Morgan and UBS. Representatives of UBS and VTB Capital did not disclose the results of the sale of securities, contact a representative of JP Morgan failed.
Earlier the company said that the funds that it will receive during the placement, it is planned to direct for financing of investment projects, including the construction of a breeding pig farm in the Primorye territory will require about 60 billion rubles., 20-25 billion of which is expected to be spent in the next 2-3 years) and a greenhouse complex in the Tambov region (about 20-25 billion rubles; at the end of March, the company reported that 100 hectares will grow cucumbers, tomatoes and lettuce; construction will begin in the summer of 2016).
Rusagro is engaged in the manufacture of sugar, pork, butter, margarine, and mayonnaise, and also plant growing. According to analytical company BEFL, in 2014 the holding also took 4th place in the rating of the largest Russian agro-holdings. In 2015, its revenue amounted to 72.4 billion rubles, an increase of 22.6%, net profit increased by 17.4%, to 23.7 billion rubles.