SPO Phosagro volume was 15 bn, free float -. 25% higher - organizer

The volume of placement of shares "Fosagro" in the SPO on the Moscow Stock Exchange amounted to about 15 billion rubles, it has significantly increased the share of the company's shares in free float, according to TASS Head of Global Markets Sberbank CIB (organizer accommodation) Andrew Chemetov.

"The total percentage of shares in free float will amount to over 25%, which may lead to an increase in liquidity," - he said.

Chemetov added that the placement carried out in the shortest possible time - the book claims was formed only one day and was filled within an hour.

Earlier it was reported that a consortium of investors led by the Russian Direct Investment Fund (RFPI) filed an application under the SPO «Fosagro" at $ 200 million. Chapter RFPI Kirill Dmitriev said that the fund will attract SPO consortium of international investors, including those from Asia and the Middle East.

Today, as it became known that one of the "Fosagro" shareholders, the company Adorabella Limited, beneficially owned by Andrey Guriev and his family, plans to sell as part of SPO to 5% of the shares - up to 6.475 million units. In this case, part of the proceeds from the sale of shares will be allocated for the purchase of 3% of the shares "Fosagro" from board member Igor Antoshina. Timing closure collection of applications, price and distribution of securities are determined by the absolute discretion of the Joint Bookrunners and the selling shareholder. "Fosagro", thus, will not receive any proceeds from the sale.

"Fosagro" ranks first in Europe and third in the world for the production of phosphate fertilizers. The main owners of the company - the structure of the deputy chairman of the board of directors "Fosagro" Andrey Guriev and his family members, their share in the authorized capital amounts to 50.28% of the shares, 14.5% controlled by the rector of the Mining Institute (St. Petersburg), Vladimir Litvinenko, 12.7% - Advisor to the General Director of "Fosagro" Igor Antoshin. The free float is about 20% of the shares, has 1.92% of the share capital are in the repos. The company is listed on the London Stock Exchange (LSE) and the Moscow Stock Exchange.