Hail of smallish block trades enlivens ECM

Rosneft
By Aidan Gregory
19 Jan 2017

Despite corporate close periods limiting the scope for equity block trades this week, a fistful of sellers came to the market this week, many of them to sell stocks that floated last year.

On Tuesday night, Rosneft, the Russian state-controlled oil producer, sold its final 12% stake in Saras, the Italian refiner and electricity producer, for €174m.

Bookrunners Credit Suisse and UBS got the block of 114m shares covered 20 minutes after launching it, without wall-crossing, at €1.50 to market. 

At ...

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