EN+ Group’s $1.5bn IPO scrapes through, for a $7bn valuation

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By Aidan Gregory
03 Nov 2017

En+ Group, the Russian power and metals company controlled by Oleg Deripaska, began trading in London and Moscow on Friday after the book for its $1.5bn IPO came together at “the last minute,” according to a banker on the deal.

The sale was priced at $14, the bottom of the initial range, late on Thursday, valuing EN+ at $7bn on a pre-money basis. 

The deal consists of 35.7m existing global depositary receipts sold by Basic Element Ltd and B-Finance Ltd, two entities controlled by Deripaska, and 71.4m new GDRs ...

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