February 15, 2018 / 7:14 AM / a year ago

Russia's EN+ says no formal decision on secondary share offering

MOSCOW, Feb 15 (Reuters) - Russia’s En+ Group said on Thursday it had made no formal decision to carry out a secondary public offering of shares (SPO).

Three sources told Reuters earlier this week that En+ has invited international banks to pitch for the sale of $1 billion of shares in the company that manages the aluminium and hydropower businesses of Russian businessmen Oleg Deripaska.

“In the ordinary course of business the Company regularly reviews its optimal capital structure, but there are no formal decisions to perform a secondary public offering”, the firm said in a statement.

reporting by Polina Devitt; writing by Denis Pinchuk; editing by Adrian Croft

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