International buyers jump on board for Globaltrans follow-on
Russian rail operator Globaltrans on Thursday completed a textbook marketed follow-on, raising $400m of primary and $70m of secondary proceeds with a $50m greenshoe after a three-day bookbuild. Early momentum was key, said bankers, who praised the effort put in by three management teams out on the road.
"You need good momentum from the start that puts you in control with strong messaging," said one banker. "We had that with the first meeting at 8am on Monday morning and three management teams out there."Globaltrans sold 20.6m new GDRs and 3.63m held in treasury, and the ...
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