Moscow Times 17 June 2013
Otkritie Securities has acquired an 11.4 percent stake in PIK Group, one of Russia’s largest property developers, Kommersant reported, citing PIK.
The shares were purchased for nearly $37 million during a recent secondary share offering.
Otkritie deputy CEO Aleksei Kurakhan said that the shares were bought on behalf of the company’s clients. PIK said that one of the clients is Suleiman Kerimov’s investment vehicle Nafta Moskva.
Before the share offering, Nafta Moskva held a 38.3 percent in PIK group. This figure has since dropped to 36 percent.
Read more…
Otkritie Buys 11.4% Stake in PIK Group
