April 3, 2018 / 6:28 AM / 22 days ago

BRIEF-Russia's Cherkizovo announces intention for SPO in Moscow

April 3 (Reuters) - Gruppa Cherkizovo PAO says:

* Announces intention for secondary share offering on Moscow stock exchange;

* Offer also includes 2,916,759 shares of APK Mikhailovsky, or 6.63 percent of all shares, in primary component of SPO;

* Secondary component’s volumes will exceed primary component’s proceedings;

* MB Capital Europe LTD also may sell shares;

* Expects to get gross proceeds of around $150 million from primary component of SPO;

* Proceeds will be used for general corporate purposes, including debt repayment and potential acquisitions;

* Goldman Sachs International, J. P. Morgan and Sberbank CIB would be joint bookrunners of the deal;

* Wants to change dividend policy to pay at least 50 percent of net profit under IFRS in dividends;

* The family of Cherkizovo’s founders will retain strategic control in the company Further company coverage: (Reporting by Moscow Newsroom)

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