Modest “ Fosagro “
the Range of the price of placing of papers of holding has appeared below expectations
Pamjatuja about a turn failure IPO the Russian companies, holding “ Fosagro “ has decided to moderate appetites. The company has established a price range in 390-495 dollars for the action, or from 13 to 16,5 dollars for one depozitarnuju the receipt (GDR) that on 20-30 % below the previous estimations of organizers of placing.
According to the declared price range a total cost of ordinary actions “ Fosagro “ it is estimated in 4,8-6,1 mlrd dollars Earlier organizers IPO Shareholders " estimated the company in 6,04-8,77 mlrd dollars; Fosagro “ (the companies, benefitsiarom which acts sentor Andrey Gurjev) papers at least on 500 million dollars, that is 8-10 % of actions expect to sell.
Maxim Lobada from FG “ BKS “ does not exclude that initial estimations “ Fosagro “ Have been spent with caution on domestic animators whereas market conditions in Europe now not the most favorable that, according to the expert, and became one of the reasons of fall of a range concerning former estimations. “ if to compare the company to foreign analogues on animators of 2011 the average estimation on a parity of cost of the company and EBITDA will make 5,8 “ - does a conclusion g - n by Lobada. According to the forecast “ Three Dialogue “ (acts as one of organizers of placing), following the results of 2011 EBITDA “ Fosagro “ will make 937 million dollars, that is the company can be estimated in 5,4 mlrd dollars
According to Reuters agency, the book of demands IPO “ Fosagro “ in the first day road show it is signed on two third. It is expected that the placing price will be declared approximately on July, 13th, 2011. Then the beginning of conditional auctions GDR is expected also. It is supposed that the admission to the auctions, and also the beginning of unconditional auctions GDR will take place approximately on July, 18th. Papers “ Fosagro “ will take place on the Russian platforms and at the London stock exchange.
One of buyers of securities “ Fosagro “ is going to become “ Sibur “ yesterday the board of directors of petrochemical holding has approved this transaction. Under the informal data, “ Sibur “ is going to get actions “ Fosagro “ on 100 million dollars (that there correspond approximately 20 % of total of placed papers). Other heavy buyer of actions “ Fosagro “ probably, there is a bank “ Russia “. According to Reuters, he intends to take shares “ Fosagro “ approximately on 50 million dollars