$1.5 Billion I.P.O. for Firm Controlled by Putin Ally Tied to Manafort
- 6 years ago
$1.5 Billion I.P.O. for Firm Controlled by Putin Ally Tied to Manafort
The offering may draw attention for using the London Stock Exchange, where listing rules are less stringent than in New York, for a transaction
that had the effect of funneling money to a Russian state bank that has faced sanctions in both the United States and the European Union, even though EN+ has not faced sanctions.
Though more money and more deals have been raised on the London Stock Exchange so far this year compared to all of last year — $5.9 billion has been raised in 25 transactions for the year to date —
that remains far below the levels set in 2013 through 2015, according to data from Thomson Reuters.
3, 2017
The Russian energy and aluminum company EN+, which is controlled by a member of President Vladimir V. Putin’s circle of favored businessmen, said on Friday
that it had raised $1.5 billion in an initial public offering seen as a major test of investors’ appetite for Russian assets.
The company is controlled by the Russian oligarch Oleg V. Deripaska, a confidant of the Russian president who once had close ties to Paul J. Manafort, the former Trump
campaign manager who was charged this week with money laundering as part of the special counsel inquiry into potential collusion between Russia and the Trump campaign.
" Maxim Sokov, the chief executive of EN+, said in a news release.
that We are very pleased with the level of interest and support for our offering that we have received from the global investor community, and I am delighted to welcome all new shareholders onto En+ Group’s register,
During the presidential campaign last year, Mr. Manafort had asked, through an intermediary, whether Mr. Deripaska might resolve a financial dispute
in exchange for "private briefings" about the Republican Party presidential campaign, The Washington Post has reported, citing email exchanges.
The offering may draw attention for using the London Stock Exchange, where listing rules are less stringent than in New York, for a transaction
that had the effect of funneling money to a Russian state bank that has faced sanctions in both the United States and the European Union, even though EN+ has not faced sanctions.
Though more money and more deals have been raised on the London Stock Exchange so far this year compared to all of last year — $5.9 billion has been raised in 25 transactions for the year to date —
that remains far below the levels set in 2013 through 2015, according to data from Thomson Reuters.
3, 2017
The Russian energy and aluminum company EN+, which is controlled by a member of President Vladimir V. Putin’s circle of favored businessmen, said on Friday
that it had raised $1.5 billion in an initial public offering seen as a major test of investors’ appetite for Russian assets.
The company is controlled by the Russian oligarch Oleg V. Deripaska, a confidant of the Russian president who once had close ties to Paul J. Manafort, the former Trump
campaign manager who was charged this week with money laundering as part of the special counsel inquiry into potential collusion between Russia and the Trump campaign.
" Maxim Sokov, the chief executive of EN+, said in a news release.
that We are very pleased with the level of interest and support for our offering that we have received from the global investor community, and I am delighted to welcome all new shareholders onto En+ Group’s register,
During the presidential campaign last year, Mr. Manafort had asked, through an intermediary, whether Mr. Deripaska might resolve a financial dispute
in exchange for "private briefings" about the Republican Party presidential campaign, The Washington Post has reported, citing email exchanges.