YAKUTSK, November 29. /ITAR-TASS/. ALROSA leadership is satisfied with the initial public offering (IPO) of its shares on the Moscow Exchange in late October, chairman of the company’s Supervisory Board Ilya Yuzhanov told Itar-Tass on Friday.

“The result is excellent. This placement has become the largest in the Moscow Exchange history. It is an important step for the positioning of Moscow as an international financial centre. The sale of shares itself has proven that the management of the company with state share can work effectively. It has become a kind of a good share placement example to follow for other national companies,” Yuzhanov said.

According to the company CEO Fyodor Andreyev, “the IPO is the result of work of the company management in the post-crisis period.” “Now the exchange market quotations will show the company’ state of affairs,” he stressed.

“All companies should follow the example of ALROSA,” believes head of the Federal Agency for State Property Management (Rosimushchestvo) Olga Dergunova. “For investors at the initial stage the stable dividend payment policy was important. ALROSA plans to increase the shareholders’ dividends. This fully corresponds to the Russian government policy aimed at expanding the dividend policies of state-run companies,” Dergunova said.

Head of the region Yegor Borisov stressed that funds from the IPO would be spend on the liquidation of hazardous dwellings, as well as on gas infrastructure development and on the improvement of the housing and public utilities sector. “The final decisions on these funds will be made in December,” he said.

During the IPO, 14% of shares owned by Rosimushchestvo and the government of Yakutia were sold, and another two percent of shares were sold by the diamond company ALROSA itself represented by a Cyprus offshore company Wargan Holdings Limited. The total sum of the transaction reached some 42 billion rubles ($1.26 billion), from which Russia and Yakutia received 18 billion rubles ($542 million), each, and the company received 5.3 billion rubles ($159.6 million).