Russia’s Cherkizovo Group starts placing 1.7 mln extra shares
Russian meat processor Cherkizovo Group has started a private offering of an additional issue of 1.7 million shares under the deal to acquire 100% in Russian poultry producer Mosselprom, the group said in a statement Monday.
In late June, the group’s board of directors set the share price for its additional offering at 854.80 rubles per share. At that, Cyprus-registered Tuxford Trading Limited has a preemptive right to buy the additional issue.
Following the additional offering, Cherkizovo Group plans to increase its charter capital by 4%. The group’s current charter capital amounts to 430,693 rubles and is split into 43,069,355 shares.
In mid-May, Cherkizovo Group said that it is to pay U.S. $252.9 million for Mosselprom, including the poultry producer’s debt of $183.8 million. The payment is to be effected partially in shares.
Cherkizovo Group’s key shareholders were MB Capital Partners, holding a 49.55% stake, and the Bank of New York International Nominees, holding a 29.47% stake as of June 30.
The price of one Cherkizovo Group share was at 665.2 rubles on the Moscow Interbank Currency Exchange (MICEX) at 3.38 p.m. Moscow time on Monday.
Cherkizovo Group is one of the largest meat processors in Russia.
Mosselprom is a vertically integrated poultry complex with facilities in the Moscow and Tula regions.
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