Moscow – PhosAgro
(Moscow Exchange, LSE: PHOR), a leading global vertically integrated phosphate-based fertilizer producer, announces that it has raised more than USD 210 million through a new share issue.
In total 5,022,920 shares were subscribed to under the new share issue. All of the orders were accepted, paid for in full by the buyers and the allotments have been transferred to them.
Including the newly-issued shares, the total number of PhosAgro ordinary shares with a nominal value of RUB 2.50 per share now equals 129,500,000.
As a result of the listing of the newly-issued shares, PhosAgro’s total free float is now 19.2%.
The proceeds from this transaction will be used by PhosAgro for financing the consolidation of minority stakes in key production facilities, as well as ongoing modernisation and development projects.
PhosAgro’s Board of Directors on 9 April 2013 approved the price of USD 42.00 per share for the additional share issue. The approved price for the newly-issued shares corresponded to the offer price for 11,111,000 existing shares sold by a group of the Company’s shareholders that preceded the beginning of PhosAgro’s new share issue.
PhosAgro’s Board of Directors on 19 October 2012 approved a share issuance prospectus and a capital increase. Both the capital increase and the share issuance prospectus were registered by the FSFM on 15 November 2012.