Sole bookrunner Morgan Stanley will sell 15.5m GDRs for between $34.24 and $36, an 8.4%-3.7% discount to Tuesday’s $37.40 close. That will leave Usmanov’s USM with 58.1% of votes and 17.9% of the share capital, down from 60.6% of the voting rights and 25.3% of the shares.
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