Russia-China Investment Fund and Sistema Price Offering for Detsky Mir Shares
Posted on 09/10/2020
Disclosed on September 2, 2020, the Russia-China Investment Fund (RCIF) via its investment vehicles Floette Holdings Limited and Exarzo Holdings Limited, and Sistema PJSFC, a publicly traded diversified Russian holding company, (collectively, the Selling Shareholders), have successfully priced the offering of Detsky Mir shares. The Offering size amounts to 184,750,001 existing shares in Detsky Mir, representing 25% of Detsky Mir’s share capital plus 1 share, which constitutes the Selling Shareholders’ entire shareholdings in Detsky Mir. The shares were sold at a price of RUB 112 per share.
Prior to the completion of the Offering, RCIF had a 4.62% ownership interest and Sistema had a 20.38% ownership interest, respectively, in Detsky Mir.
Following the completion of the Offering, the Selling Shareholders will cease to hold any ownership interests in Detsky Mir. The Offering will raise gross proceeds of approximately RUB 20,692,000,112 for the Selling Shareholders, including RCIF – RUB 3,821,302,240.
Credit Suisse Securities (Europe) Limited, Goldman Sachs International, Sberbank CIB and VTB Capital plc acted as Joint Global Coordinators and Joint Bookrunners, and Alfa Bank acted as Joint Bookrunner.
The Russia-China Investment Fund was established by the Russian Direct Investment Fund and China Investment Corporation.