Page 85 - RusRPTDec23

8.3.3 ECM news
Russian gold producer Uzhuralzoloto Group of Companies (UGC) plans to hold an initial public offering (IPO) to sell a 5% stake on the Moscow Exchange in November, the company said in a statement on November 9. "During the IPO investors will be offered the shares representing up to 5% of the shareholder equity of the company... The company is considering finishing the share offer until the end of November 2023," UGC said. According to the company, the floatation would consist if new shares.
Russian railcar manufacturer United Wagon Company (UWC) has successfully completed a secondary public offering (SPO), raising 25.95bn rubles in funds on November 22. Bank Trust was a significant contributor, accounting for 25bn rubles of the total amount, according to a statement by UWC. The approval for the issuance of 12.5bn rubles worth of shares was granted in September, with the new share offer initiated for existing shareholders exercising their pre-emptive rights in October. The SPO officially commenced on November 9, with shares priced at 9.30 rubles each. The offering concluded on Wednesday. UWC reported, "As a result of the pre-emptive right and an over-the-counter placement, the company raised 25.95bn rubles and sold around 2.79bn shares. Bank Trust acted as the anchor investor by buying the company’s shares worth 25bn rubles." Following this acquisition, Bank Trust now holds a 93.6% stake in the United Wagon Company. The funds raised will serve a dual purpose: 25bn rubles will be allocated towards debt redemption, and the remainder will be directed towards the company's investment program, which includes import substitution activities aimed at enhancing UWC's intrinsic value.
One of Russia’s largest federal-level retailers of men’s apparel and footwear Henderson attracted more than 40,000 investors in an initial public offering (IPO) to raise 27.3bn rubles, the company said in a statement on November 2. “As a result of the IPO, the company’s market capitalization will amount to 27.3bn rubles as of the start of the trading,” it said. Henderson’s shares will start trading on the Moscow Exchange on November 2.
Russian gold producer Uzhuralzoloto Group of Companies (UGC) has established the price for its initial public offering (IPO) on the Moscow Exchange at 55 kopecks per share, aligning with the lower end of the initial price guidance range of 55–60 kopecks on November 22. This pricing values the company at 110bn rubles, excluding expected IPO proceeds. The anticipated IPO size represents approximately 5% of the company's shareholder equity. The bidding period for the IPO concluded on Monday, and trading in UGC shares under the second-tier quotation list of the Moscow Exchange is set to commence on Wednesday. Uzhuralzoloto Group's decision to price its IPO at the lower end of the range suggests its focus on attracting
85 RUSSIA Country Report December 2023 www.intellinews.com