Kerimov Sells Alrosa Stake

The Moscow Times Oct 14
Billionaire Suleiman Kerimov has sold his stake in Alrosa, a month before the planned IPO of 16 percent of the diamond producer’s shares, a news report said Monday.
The businessman may have owned from 1 to 2 percent of Alrosa, several unidentified sources told Vedomosti. The average cost of 1 percent of the company on the stock exchange was $81 million in 2013.
In the beginning of October Alrosa confirmed its plans to sell 16 percent of the company through an IPO.
The federal government and the republic of Sakha, formerly known as Yakutia, will each sell 7 percent of their shares while 2 more percent will be offered by the company itself.
The exact date of the IPO was not disclosed, but company president Fyodor Andreyev said earlier that the privatization of Alrosa could start in November.
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