Mosgorlombard managed to raise 303 million rubles during an initial public offering on the Moscow Stock Exchange, but the company did not sell the entire planned volume of shares. The bidding will begin on December 28 at 4:00 p.m. The shares are included in the “third level” section with the MGKL banknote, the press service of Mosgorlombard reported.
Mosgorlombard announced plans to hold an initial public offering on the Moscow Stock Exchange at the beginning of the month. The company secured the supply through an additional issue.
In total, PJSC MGKL was going to place 329,160,000 shares at 2.5 rubles each. Thus, the proportion of free float could reach 14.6%.
During the placement, MGKL was not able to realize the full anticipated potential. As the general director of the company, Alexey Lazutin, explained, this situation will allow in the future to use the public capital market if the need arises.
In addition, it gives investors the opportunity to “take a closer look, better understand the details, see the achievements and make a decision to buy shares.”
Initially, the planned price range was 3.1 to 3.5 rubles per share, but the company could not collect the necessary number of applications and therefore the range was reduced to 2.5 to 2.55 rubles per share.
Previously, 872.9 million MGKL shares with a nominal value of one kopeck each, as well as 27,430 preferred shares with a nominal value of 100 rubles, were in free circulation.
The company intends to split the preferred shares from 1 to 100, as a result of which their par value will be the same.
Author:
Natalia Gormaleva
Source: RB
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