Source - SMW
En+ Group, a leading international vertically integrated aluminium and power producer with core assets located in Russia, has priced its initial public offering of global depositary receipts to be admitted to trading on the London Stock Exchange and the Moscow Exchange.

It said the offer price had been set at US$14 per GDR, with each GDR representing one ordinary share in the company.

    It said the  total size of the offering amounted to 107,142,858 GDRs, representing US$1.5bn at the offer price, of which US$1.0bn (71,428,572 GDRs) was primary proceeds and US$0.5bn (35,714,286 GDRs) wasa secondary component, excluding the over-allotment option.
 
It said the offering included a US$0.5bn cornerstone investment from AnAn Group (Singapore), an important strategic partner of CEFC China Energy Co.   En+ Group said the offering would allow the group to raise funds to repay a portion of debt incurred by the company.   It said the offer price implied a post-money market capitalisation of US$8.0bn at the commencement of trading.




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