9 Jun 2021 09:50

Beluga Group to raise 5.6 bln rubles in SPO at 2,800 rubles/share

MOSCOW. June 9 (Interfax) - The placement price of the SPO of PJSC Beluga Group was 2,800 rubles per share, as expected.

A total of 12.7% of Beluga shares are being sold in the deal, the Russian alcohol company reported. The selling shareholder is Tottenwell Limited, a wholly owned subsidiary of Beluga Group.

Based on the placement price and the number of shares being sold, the company will raise 5.6 billion rubles (about $77 million at the Central Bank of Russia's exchange rate on Wednesday) before commissions.

The initial price guidance for the SPO was 2,800-3,200 rubles per share. The lower end of the range corresponds to a discount of about 24% to the closing price on June 3, and the upper end corresponds to a discount of about 13%.

On Tuesday, investors were told that the offering might take place at the lower end of this range, which is what happened.