November 9, 2017 / 11:31 AM / a year ago

UPDATE 1-Russia's Deripaska directly holds 65.2 pct of En+ after IPO - document

(Adds details, background, share price)

MOSCOW, Nov 9 (Reuters) - Russian tycoon Oleg Deripaska will retain a 65.2 percent direct stake in En+ Group, which manages his aluminium and hydropower businesses, after an initial public offering (IPO) closed last week, a company document shows.

The IPO of En+ was the first major primary equity raising by a Russian company in Britain since Western sanctions were imposed on Russia over its role in the Ukraine crisis. En+ and Deripaska are not under sanctions.

Apart from the 65.2 percent stake owned by the two entities linked to Deripaska, another 11.4 percent belongs to his family, the document shows.

En+ raised a total of $1.5 billion from selling new and existing shares in the IPO, held in both London and Moscow.

After the deal, Russian bank VTB will hold a 3.8 percent stake and another 6.2 percent will be held by AnAn, a partner of China’s CEFC and a cornerstone investor in IPO. VTB may provide financing to AnAn, the document shows.

En+ plans to repay a VTB loan of $942 million in full from the proceeds of the IPO, according to the document.

En+ priced the IPO at $14 per global depositary receipt (GDR), at the bottom of the expected range. On Thursday, its GDRs were trading at $13.05 apiece. (Reporting by Anastalia Lyrchikova and Katya Golubkova; Editing by Mark Potter)

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