Metalloinvest sells 1.8% of shares of “Norilsk Nickel” Vladimir Potanin through an accelerated bookbuilding, said in a statement on the London stock exchange. In 2016, the company sold 1.4% $341,69 million, reducing its share to 1.8%, according to the report of the company for the year 2016. Thus, with the sale of a package of “metalloinvest” will “Norilsk Nickel”.
The organizer of the sale will act Deutsche Bank. The representative “metalloinvesta” declined to comment, noting that the action “Norilsk Nickel” in the holding had always considered as investments for sale. The representative “Norilsk Nickel” also did not comment on the sale of shares to investors.
The representative of the largest shareholder “Norilsk Nickel” group “Interros” Vladimir Potanin (owns 30.3% of the company) — refused to comment. Also received the representative of Roman Abramovich (together with Alexander Abramov owns 6.3% of “Norilsk Nickel” through Crispian Investment). With a representative UC Rusal (27,8% of “Norilsk Nickel”) could not be reached.
Shares of “Norilsk Nickel” reacted to the fall in the quit message “metalloinvesta” structure of the share capital: as at 19:00 Moscow time the value of one share on the Moscow stock exchange totaled 8,410 thousand RUB per share (falling by 3.26%). On the London stock exchange receipts of Norilsk Nickel was trading at $14,76 per share (+0,13%, at 20:40 GMT).
As reported “Interfax” citing a source, price for sale package includes a 4.5 percent discount to the market price guide for sale package installed for under $14,1 for ADR. Thus, the package cost may be about $400 million, estimates analyst S&P Global Ratings Sergei Gorin. “We cannot say that metalloinvest has chosen the most opportune time to sell given the fall in Nickel prices since the beginning of the year,” he points out. He suggests that the company Usmanov decided to focus on its core business — the production of iron ore raw materials and steel products. Recently, part of metalloinvest Lebedinsky GOK launched the facility manufacturing hot briquetted iron ZHBI-3, resembles Gorin.
In 2008, metalloinvest bought a 5% stake in Norilsk Nickel. In 2013, the holding company has reduced the share to 3.5%, generated $588 million, according to the report for 2013. In 2015, the largest shareholder of “metalloinvest” Alisher Usmanov has stated that he wants to increase the share in “Norilsk Nickel”, as satisfied by the amount of dividends of the company.