Wednesday April 30, 10:34 AM
Globaltrans Investment raises $449.4 million by issuing GDRs at $13.25 each
LONDON (Thomson Financial) - Globaltrans Investment Ltd. said it has raised about $449.4 million before expenses by issuing about 33.92 million global depositary receipts (GDRs) at $13.25 each.
The Russian freight rail operator said the implied market capitalisation of the company on completion of the offering is $1.55 billion.
A total of about 16.96 million GDRs representing newly issued shares in Globaltrans are being sold by the group, and about 16.96 million GDRs are being sold by Transportation Investment Holding Ltd. and Envesta Investment Ltd.
The company also said admission of GDRs to the official list of the UK listing authority and unconditional dealings of the GDRs on the London Stock Exchange (LSE: LSE.L - news) is expected to take place by May 8.
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