Russia momentum continues with LSR block

By Sam Kerr
03 Apr 2019

ECM investors continue to support Russian deals and flooded into a Rub5.8bn ($89m) block in LSR Group, the Russian real estate development company, in what was the latest sell-down by one of the country’s oligarchs.

JP Morgan and VTB Capital were the bookrunners on the transaction.

Andrey Molchanov, chair of the board of directors and the largest shareholder in the company, sold 10 million shares at Rub580 a share, an 8.7% discount to the closing price.

Molchanov had only intended to ...

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