Amtel shares go to private investors for $34.2 million

By Liz White, ERJ staff

Moscow-Amtel has sold ten percent of its outstanding shares to more than 20 institutional investors in Europe, Russia and the US, in a private sale managed and underwritten by Troika Dialog.

A total of 450 000 shares in the Russian tyre maker were sold, at $76 each, giving a transaction worth $34.2 million. This implies a current Amtel market capitalisation of $342 million, said a company statement.

“The success of this placement clearly indicates an acceptance of our track record…

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