Russian Aquaculture raises $17m via SPO co-run by Gazprombank, Otkritie

By Andrei Skvarsky.

One of Russia’s main producers of farm-grown salmon and trout, Russian Aquaculture, has announced it has raised more than 1bn roubles ($17m) through a recent second public offering (SPO) co-run by two Russian banks, Gazprombank and Otkritie.

The Moscow-based company said in a statement that it had boosted its market capitalisation to 10.5bn roubles ($178.3m at the December 15 market exchange rate) through what it described as a “successful” SPO.

It has sold 8.34m shares, all of them ordinary, setting the per-share price at 120 roubles ($2), and will have free float of about 9 per cent of its enlarged share capital.

Russian businessman Maxim Vorobyov was among those who bought shares through open subscription during the SPO and now owns 47.1 per cent of Russian Aquaculture’s increased capital.

Gazprombank, Russia’s third-biggest lender by assets, is one of the country’s state-controlled banks that are under Ukraine-related sanctions imposed by the European Union and the United States.

Otkritie ran into major problems earlier this year but was rescued the central bank in the late summer in what US-based business news television channel CNBC called one of the largest bail-outs in the Russian regulator’s history.

Otkritie was Russia’s largest private lender until the central bank took 99.9-percent ownership of it several days ago.

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