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Article: Russia's Acron to place $2 mln in GDR next week - source.
- Article from:
- Russia & CIS Business and Financial Newswire
- Article date:
- August 4, 2008
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Russia's Acron to place $2 mln in GDR next week - source
MOSCOW. Aug 4 (Interfax) - Russian fertilizer producer Akron (RTS: AKRN) will place $2 million worth of Global Depository Receipts on the London Stock Exchange next week, a source in banking circles told Interfax.
"The company is prepared to do it right now, the issue in this case is the technical moment," the source said.
The GDR will be placed at market value. Based on Acron's current market quotes, the company could place roughly 0.045% of its shares.
Analysts say that receiving a listing on the LSE will enable Acron to place a bigger number of shares after the market ...