Onexim of M. Prokhorov sold 3.38% of UC Rusal for $240 mln

Nadezhda Ivanova's picture

Onexim has sold 3.32% of UC Rusal for $240 mln, Vedomosti reports referring to Renaissance Capital as one of the organizers.

The discount to the price of UC Rusal’s shares at closing of the Hong Kong stock exchange made up 9%.

The bid book for Rusal’s shares was opened today at 1.30 p.m. Moscow time. Initially 2.5% of shares were offered at the market price of $200 mln. Later it was said of an opportunity to increase the package to 3.75%. By the evening the price was reduced from 4 to 3.7 Hong Kong dollars/share.

Initially Onexim planned to sell 5%.

In October 2016 V. Vekselberg announced of his intension to purchase a package of Onexim in Rusal. The deal was planned to be closed until the end of October.

Previously Rusal was reported to negotiate with banks on the sale of up to 20% of the additional issue on the LSE. It was about the sale of GDRs for 20% of the company’s shares. But the minority shareholders were reported to block this deal.

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