Rus News Journal

Investors have floated by Russian sea

Group Russian sea on Friday declared closing of the book of demands within the limits of IPO in RTS and on the Moscow Interbank Stock Exchange at the price of $6 for the action, that is on the bottom border of a price range. Demands are submitted only on 18,9 % of actions though the offer made 27,3 %. The group tried to sell itself as the manufacturer though it is necessary two third of its business on distribution, where monetary streams are less predicted explain low demand of analytics.
originally Open Society the Group of companies Russian sea was going to involve during IPO to $200 million, after expectation about $130 - 170 million have been corrected: it was supposed that 21,692 million ordinary actions (27,3 % of the increased authorised capital stock) will be sold on $6 - 8. Organizers IPO - the Renaissance the Capital and VTB the Capital . On Thursday late at night Russian sea Has closed the book of demands at the price in $6. Transactions with investors will be closed within ten days. On Friday indication price of actions Russian sea in RTS has made $6,1.

As it has been declared on Friday, demands are submitted only on 15 million actions (18,9 %), including 11,385 million has sold Corsico Limited, supervised by Maxim Vorobevym, the brother of the head of the Central Electoral Committee of party an United Russia Andrey Vorobeva, and 3,615 million was necessary on exchequer actions. Thus, Russian sea has involved about $90 million at all estimation of business in $477,2 million the Source close to placing, specifies that mister Vorobevu will manage only $25 million, and the company will receive so much, how many was planned, - about $65 million (the shareholder will redeem a part dopemissii).

According to the interlocutor A considerable quantity of the transactions on the stock exchange which have had for this period became one of the reasons of low demand from investors. for example, we precisely know that have received less a $10 million minimum only because on Thursday Eurasia Drilling (the petroservice company. - ) placed the GDR and some our investors have preferred to be enclosed in these papers - he confirms.

Russian sea develops three directions: the seafood ready to the use (24 % from the general sales); the cooled and frozen products (75,4 %); fresh fish (0,5 %). According to the group report, its gain on MSFO in 2009 - 17,31 mlrd rbl., net profit - 423 million rbl. (in 2008 there was a loss of 143 million rbl.) EBITDA - 1,38 mlrd rbl.

the Analyst Uralsiba Tigran Ovanesjan is assured that potential buyers of papers Russian sea the price has confused. recently I met in London investors who showed discontent with that the companies of the Russian consumer sector - Russian sea Has leaked and Rusagro - want to take place at the highest prices though usually on IPO offer actions at least with 15 - percentage discount - he tells. Director Prosperity Capital Management Alexey Krivoshapko confirms that its company did not participate in IPO Russian sea having counted suggested price overestimated. that they tried to sell themselves as the company - the manufacturer, at investors could raise only a smile. It is necessary two third of incomes of group on distribution business which has the notable risks connected with less predicted monetary streams - he marks.

the general director Russian sea Dmitry Dangauer has declared that is satisfied by placing results. Mister Krivoshapko too considers that the group does not have occasion to discontent: It could involve the means almost ten times exceeding its annual profit, and it is very good result .