Inarctica lowered its SPO price target to RUB 900. per share – Kommersant

One of the large producers of aquaculture salmon and trout, Inarctic, has adjusted the parameters of its secondary share offering (SPO). It is expected that it will be at the lower limit of the initial price range – at the level of 900 rubles. per share instead of the previously announced 900–968.5 rubles.

“Inarctic” also reportedthat investors participating in the SPO will be able to buy one additional share from the selling shareholders in six months at the SPO price for every five shares purchased as part of the placement. The exchange order book is open until 18:30 on November 29. Brokers can set their own closing time for accepting applications.

The company expects that the SPO will allow it to strengthen its position in the public market due to the influx of new investors into the shareholder structure, an increase in the number of shares in free float, as well as increased liquidity of shares. Increasing the number of shares “will be a step towards including Inarctika shares in the calculation base of the main index of the Moscow Exchange.”

The main shareholder of Inarktika was previously considered to be Maxim Vorobyov, brother of the governor of the Moscow region Andrei Vorobyov. Until December 2022, he owned 47% of the company. After Messrs. Vorobyov came under US sanctions, Inarktika announced a reduction in Maxim Vorobyov’s share to less than 24%.

Leonid Uvarchev