Alrosa Eyes Share Sale
- May. 17 2013 00:00
- Last edited 20:25
Alrosa plans a share sale that could value the business at up to $15 billion and raise hundreds of millions of rubles for its local and national government owners.
The issue, which the Russian government has been promising since the mid-2000s, would be carried out on the Moscow bourse in October or November, chief executive Fyodor Andreyev said on Thursday after a meeting with President Vladimir Putin.
"The sale of a 14 percent stake on the Moscow stock exchange is a base-case scenario," he said.
The company wants to attract a wide range of investors and avoid the entry of a large strategic shareholder, Andreyev said. Final approval of the deal is expected by June 25.
Alrosa's valuation is seen in a range of $9 billion to $15 billion, Andreyev added.