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Russia's Alrosa announces accelerated preparation of bid book for SPO

July 06, 20:34 UTC+3
The Russian Government offered 10.9% ordinary shares in Alrosa diamond miner for sale
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MOSCOW, July 6. /TASS/. Alrosa announced initiation of accelerated preparation of the bid book for participation in sale of 10.9% of its charter capital (802,781,254 ordinary shares) during the secondary public offering (SPO), the Russian diamond miner said on Wednesday.

The Russian Government offered 10.9% ordinary shares in Alrosa diamond miner for sale, Minister of Economic Development Alexey Ulyukayev said earlier today.

Revenues from sales will be allocated for further use within the budget expenditures framework, the minister said.

Alrosa’s shares in free float will grow from 23% to 34% after sale of the government stake. The company is the globally largest diamond miner. Alrosa mined 38.3 mln carats of diamonds in 2015.

"Furthermore, the Russian Federation Government will not take any further decisions on additional sales of Alrosa’s shares held in federal property within 180 days after announcement date of the offer price," Ulyukayev said.

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