print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases REGISTER LOG IN

Press Releases

company search
all press releases
all Financial Corporation "Sistema" press releases

Financial Corporation "Sistema"

November 22, 2019

Sistema and Russia-China Investment Fund successfully price offering of 175m Detsky Mir shares

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY LAW

Moscow, Russia– 22 November 2019 – Sistema PJSFC (“Sistema” or the “Corporation”) (LSE: SSA; MOEX: AFKS), a publicly traded diversified Russian holding company, together with the Russia-China Investment Fund (“RCIF”) via its investment vehicles Floette Holdings Limited and Exarzo Holdings Limited (collectively, the “Selling Shareholders”), have successfully priced the offering of Detsky Mir shares (the “Offering”).

DETAILS OF THE OFFERING

·         The Offering size amounts to 175 million existing shares in Detsky Mir, representing 23.7% of Detsky Mir’s share capital.

·         The shares were sold at a price of RUB 91 per share.

·         After giving effect to the Offering, the free float of Detsky Mir is 57.6%.

·         The Offering raised gross proceeds of approximately RUB 15,925m for the Selling Shareholders, inclusive of RUB 12,542m for Sistema.

·         Sistema has a remaining ownership interest of 33.4% and RCIF has a remaining ownership interest of 9.0%, respectively, in Detsky Mir.

·         Goldman Sachs International, Sberbank CIB, UBS Investment Bank and VTB Capital plc acted as Joint Global Coordinators and Joint Bookrunners (the “JGCs”).

Shares in Detsky Mir held by Sistema and RCIF which were not sold in the Offering will be subject to a 180-day lock-up, subject to certain customary exceptions.

Net proceeds from the offering received by Sistema will be used for general corporate purposes, including debt reduction.

Andrey Dubovskov, President and CEO of Sistema, said:

“In launching the Offering, we believed it was critical to the interests of all shareholders to enhance liquidity by increasing the free float to attract more investors. We feel that we have achieved our goals, as interest among investors has proven to be strong both regionally and globally and among a variety of investors attracted by Detsky Mir’s strong financial and operational profile. As Sistema will remain a significant shareholder, we affirm our commitment to Detsky Mir’s strategic development and leadership team.”

***

For further information, please visit www.sistema.com or contact:

Investor Relations

Nikolai Minashin

Tel.: +7 (495) 730 66 00

n.minashin@sistema.ru

Public Relations

Sergey Kopytov

Tel.: +7 (495) 228 15 32

kopytov@sistema.ru

 

 

Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G H I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer