Press about us

11 July 2016
Dow Jones
Correct: Russian Government Sells Alrosa Stake to Raise $814M for Budget - Official

Russia sold a stake in Alrosa, the world's largest diamond producer, the first of what officials say could be a series of asset sales to bolster the country's budget, which is suffering from weak prices for Russia's main export, oil.

The government placed a 10.9% stake in the company at 65 rubles per share, bringing 52.2 billion rubles ($814 million) into the budget, officials said Monday.

Around 35% of demand came from European investors, 35% from Russia, 25% from the Middle East and Asia and 5% from the United States, said Boris Kvasov, director of equity capital markets at VTB Capital, which co-organized the placement.

Corporate Communications VTB Capital