19th Mar 2019 08:30
LONDON (Alliance News) - Evraz PLC on Tuesday said four investors have finalised the sale of a combined 25.4 million shares in the company.
Greenleas International Holdings Ltd, Abiglaze Ltd, Crosland Global Ltd, and Toshi Holdings Ltd offered the shares, equivalent to 1.8% of the FTSE 100 steelmaker, in a placing at 595 pence for a total of GBP151.1 million.
Evraz shares were trading down 59% at 592.80p early Tuesday. Evraz was not a party to the placing and received no proceeds from it.
Of the 25.4 million shares, 11.5 million were sold by Greenleas, 8.5 million by Abiglaze, 4.2 million by Crosland, and 1.2 million by Toshi.
Following the placing, the four investors are subject to a lock-up of 60 days for their remaining shares in Evraz.
Greenleas continues to hold a 30% interest in Evraz, while Abiglaze, Crosland and Toshi retain 20%, 10%, and 2.9% stakes respectively.
Non-Executive Chair Alexander Abramov has an indirect interest in the shares held by Abiglaze. He sold GBP50.4 million worth of shares, and now owns a 20% indirect stake in Evraz.
Alexander Frolov, chief executive, sold GBP25.2 million worth of shares via the Evraz shares held by Crosland, while Non-Executive Director Eugene Shvidler sold GBP7.2 million in shares via Toshi.
Frolov retains 10% of Evraz, while Shvidler now has a 2.9% stake.
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