Samolet announces IPO on Moscow Exchange in Q4, shareholders to sell 5%
MOSCOW. Oct 15 (Interfax) - Samolet Group, a major Russian residential real estate developer has officially announced plans to carry out an initial public offering on the Moscow Exchange .
Mikhail Kenin, Igor Yevtushevsky and Pavel Golubkov will sell about 5.1% of existing shares in the IPO through Moskovia Legal Agency LLC. Golubkov will then reinvest part of the proceeds - from the sale of 2.5% of shares - in the company by buying new Samolet shares.
The IPO is expected to result in a free float of 5% of increased charter capital, the company said.
VTB Capital and BCS Global Markets are acting as coordinators of the offering.
Samolet plans to use the proceeds from the IPO to acquire new properties and finance the start of construction of projects that are already in its portfolio.