Russia's En+ prices IPO at $14 per GDR, valued at $8 billion

Russia's En+ prices IPO at $14 per GDR, valued at $8 billion:

"Russia’s En+ Group, which manages tycoon Oleg Deripaska’s aluminum and hydropower businesses, priced its global depositary receipts at $14 in an initial public offering (IPO) on Friday, at the lower end of its guided range. The IPO of En+ in Moscow and London is the first major primary equity raising by a Russian company in Britain since Western sanctions were imposed on Russia over its role in the Ukraine crisis. En+ and Deripaska are not under sanctions. En+ said its post-money market capitalization amounted to $8 billion and the offering would raise a total of $1.5 billion. AnAn Group, a partner of China’s CEFC, invested $500 million in the company’s GDRs, EN+ said in a statement."



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