PhosAgro officially announces plans for IPO in London, Moscow
MOSCOW. June 14 (Interfax) - PhosAgro has officially announced its intention to hold an IPO in London and Moscow.
The fertilizer producer said in a statement that it would offer existing ordinary shares to Russian investors and shares and Global Depositary Receipts (GDR) to institutional investors outside the country.
A banking sector source told Interfax that a road show would begin in June 29 and that pricing was due on July 15.
PoosAgro said the selling shareholders will be a group of PhosAgro shareholders, which may include Chlodwig Enterprises Limited, Miles Ahead Management Limited, Adorabella Limited, Dubhe Holdings Limited and Fornido Holding Limited.
Each GDR represents 30 shares.
The company did not disclose further details about the IPO.
A banking sector source has told Interfax that the company might sell up to 10% of its shares and that it had a market cap of $6 billion-$8 billion.
