Russian conglomerate Sistema and the Russia-China Investment Fund have sold a Rb15.9bn ($249.7m) chunk of stock in Detsky Mir, the Russian toy store, after a fully marketed offering designed to boost the freefloat of the company and diversify the shareholder base.
The sale of 175m shares, a 23.7% stake, was announced a week ago on November 15. Detsky Mir ran an international roadshow with investors before pricing the deal at Rb91 on Friday – a 5.7% discount to the last price of Detsky Mir before the trade was announced.
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