PIK block sold amid Russian resurgence

Russia, equities, block, red square,
By Sam Kerr
10 Oct 2019

Equity bankers and investors are hot on Russia and a block on Wednesday night in PIK Group, the country’s largest real estate firm, served as a further example of the remarkable recovery of Russian ECM.

JP Morgan and VTB Capital were global co-ordinators and Gazprombank a bookrunner on the Rub4.9bn (€68.7m) accelerated transaction.

The deal comprised 14.2m secondary shares sold by Firlibia Holdings, a vehicle owned by Mark Rhodes, an unconnected minority shareholder.

“It went very well; it was wall-crossed prior ...

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