19th Jun 2019 17:20
(Alliance News) - Senior executives of Evraz PLC have decided to collectively sell 1.7% stake in the Russian steelmaker, bookrunner Citigroup Global Markets Ltd said Wednesday.
Abiglaze Ltd, Crosland Global Ltd, Greenleas International Holdings Ltd and Toshi Holdings Ltd have notified Evraz of their intention to sell around 25 million existing ordinary shares of the company via an accelerated bookbuild.
Shares in Evraz closed at 675.80 pence on Wednesday. At the closing price, the sale is valued at around GBP169 million.
Evraz Chair Alexander Abramov has an indirect economic interest in the company's shares held by Abiglaze; Chief Executive Officer Alexander Frolov owns stake via Crosland Global; and Non-Executive Director Eugene Shvidler owns interest via Toshi Holdings Ltd. Businessman Roman Abramovich owns shares in Evraz via Greenleas International.
Credit Suisse Securities (Europe) Ltd and UBS Europe SE are also serving as joint global coordinators and joint bookrunners along wiht Citigroup.
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