Guryev sells 4.5% of PJSC PhosAgro as investors warm to Russian stocks
Adorabella Ltd, a vehicle controlled by billionaire Andrey Guryev and his family, has sold a 4.5% stake in PhosAgro, the Russian maker of phosphate-based fertilizers, for Rb14.8bn ($250m) via an accelerated bookbuild on Wednesday night that was covered in an hour.
Bank of America Merrill Lynch, Citigroup, Sberbank CIB and VTB Capital were bookrunners.The deal comes as Russian ECM is enjoying something of a resurgence. Detsky Mir, the toy retailer, floated on the Moscow Exchange for Rb18.4bn this week, while Severstal PJSC, the steel producer, sold $250m ...
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