RDIF et al. invest in Alrosa IPO

Investors from North America, the Middle East, western and northern Europe as well as south-east Asia bought shares in the company alongside RDIF.

Alrosa floated at RUB35 per share. The firm offered 1,181,332,741 shares, of which 515,547,593 were sold by the Russian Federation while 515,547,593 and 150,237,555 were sold by OJSC RIC Plus, an open joint-stock company owned by the Republic of Sakha, and Wargan Holdings Limited, a Cyprus company controlled by Alrosa, respectively.

Goldman Sachs acted as agent for the sale while Goldman Sachs International, JP Morgan Securities, Morgan Stanley, VTB Capital and Renaissance Capital acted as joint global coordinators as well as bookrunners for the transaction.

Company
Alrosa solely focuses on the extraction and distribution of diamonds, with six open-pit mines, three underground mines and thirteen alluvial placers located in the far east of Russia. Its two main mines are located in Yakutia and the Arkhangelsk region.

In 2012, Alrosa produced the equivalent of 34.5 million carats in diamonds. The firm reported total rough diamond sales of around $4.45bn in the same year. Its cutting and polishing subsidiary Brillianty Alrosa produced and sold polished diamonds worth an overall $140m. Alrosa reported an average revenue of $2.7bn. 

People
Fyodor Andree is the CEO of Alrosa. Sean Glodek is director at RDIF.

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• Topics
• CEE
• Industrials
• PIPEs
• Russia
• Russian Direct Investment Fund (RDIF)