UC Rusal summarized IPO. The company was valued at $ 21 billion, and sold for 10,6% of the shares was $ 2,24 billion The largest investors in UC Rusal became EBV and state fund Libyan Investment Authority, bought 3,15% and 1,43% of the shares at $ 663 million and $ 300 million respectively.

Despite the high cost of the shares, the book of applications to the offering price perepodpisana twice, told the staff of several banks that conduct transactions newspaper Vedomosti. In the end, after the IPO UC Rusal will be a little more than 300 new shareholders. The publication has already managed to find out who gets the largest share.

Applications

four key investors, with which UC Rusal agreed to participate in the IPO to launch roadshows, fully satisfied, told several sources close to UC Rusal. VEB will get 3.15% stake for $ 663 million, funds NR Investments Nathaniel Rothschild and John Paulson”s Paulson Co - on 0,47% of the shares at $ 100 million each, the companies of the Asian billionaire Robert Kuok - 0,09% of the shares at $ 20 million Under agreement with UC Rusal they do not have the right within six months to sell the purchased securities on the exchange.

was found in the transaction, there are five anchor investors, whose names and volumes of applications during the filling of the book served as bait for others, told several sources close to UC Rusal. They subscribed to the shares since the start of road-shows (for a certain amount - for the final offering price) and in contrast to the key investors have the right to sell shares to start trading.

number one in the top five - Libyan state fund Libyan Investment Authority (LIA, according to Platts, manages assets of more than $ 65 billion), told sources close to UC Rusal. He buys about 1.43% of UC Rusal to $ 300 million and will become the second largest after the VEB minority shareholder. According to one source close to UC Rusal, the decision to purchase securities fund was taken from the personal approval of family Gaddafi (Muammar Gaddafi de facto rules the country), and negotiations were conducted by including the largest owner and general director of UC Rusal, Oleg Deripaska. Representatives of the Fund for the query is not answered.

The five anchor investors also includes Hong Kong Cheung Kong billionaire Li Tszyachena (spend $ 100 million and will buy 0.47% stake), foundations, Credit Suisse and Merrill Lynch (on behalf of clients had invested approximately $ 20 million each) and the Cyprus Ronin Europe Ltd . The last part of the group Ronin Partners, established in 2008 came from Nomos Bank. She will receive 0,3% of the shares at $ 65 million, the paper purchased for clients, explained a source close to the Ronin. Who”s customers - he did not disclose. One source close to UC Rusal, believes that this structure may be associated with the co-owner of the bank and the owner of “East” by Alexander Nesis. A close source to the entrepreneur claims that it is not.

IPO UC Rusal has attracted attention, and other well-known buyers. Among them, U.S. Wellington Management, one of the largest private investment fbeaunds of the world (according to Hoovers, its assets under management exceed $ 50 billion), and Batterymarch Financial Management, said sources close to UC Rusal. Both made an application for about $ 100 million, but they are satisfied about 75%. Also, shareholders of UC Rusal will be dozens of smaller hedge funds.

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