MOSCOW: Etalon Group Plc (MCX: ETLN) announced the results of its previously announced marketed offering (Rump Offering) to institutional investors of newly issued ordinary shares of the Company in the form global depositary receipts (GDRs) by means of a book-building on 13 May 2021.
In the Rump Offering, a total of 64.865 million GDRs were purchased by investors. Therefore, the company’s total proceeds from the offering will amount to $150.428 million.
The Offering included, in addition to the Rump Offering, the Company’s previously announced offering of rights to subscribe for newly issued Ordinary Shares to existing holders of the Company’s equity securities.
In the Rights Offering, eligible holders of GDRs subscribed for 23,339,732 new Ordinary Shares and 281,975 new GDRs in total.
Renaissance Capital, Sberbank CIB (UK) Limited and VTB Capital plc acted as Joint Global Coordinators and Joint Bookrunners in connection with the Offering.
The settlement of both the Rights Offering and the Rump Offering is expected to take place on or around 18 May 2021. At settlement, a total of 88,487,391 new Ordinary Shares, including those represented by GDRs, constituting 30% of the issued Ordinary Shares as of the date of this announcement, will be issued and delivered to the investors and eligible holders of GDRs who participated in the Rights Offering.
The offer price for both the Rights Offering and the Rump Offering was USD 1.70 per Ordinary Share/GDR.
Founded in 1987, Etalon Group is one of the largest development and construction companies in Russia. The Company focuses on middle class residential real estate in the Moscow and St Petersburg metropolitan areas. With a more than 30-year history, Etalon Group has one of the longest and most successful track records in the Russian real estate industry. Since its foundation, Etalon Group has commissioned 7.5 million sqm of real estate.
With our integrated business model, we are able to create added value for clients and shareholders at every stage of development: from land plot analysis and acquisition to the delivery of completed properties and provision of post-development housing services. Etalon Group employs over 4,600 people, and its nationwide sales and marketing network covers 59 Russian cities.
In 2019, Etalon Group acquired and consolidated 100% in Leader-Invest, one of Moscow’s largest residential developers by size of land bank and number of projects currently available for sale.
Etalon Group’s total assets comprise 20 projects under development, unsold inventory at completed residential complexes and commercial properties, with total unsold NSA of 2.8 million sqm, as well as construction and maintenance division. Colliers International valued the Company’s total assets at RUB 204 billion as of 31 December 2020.
In 2020, Etalon Group’s new contract sales totalled 538 ths sqm, or RUB 79.9 billion. Deliveries in 2020 amounted to 540 ths sqm.
The Company’s revenue in 2020 amounted to RUB 78.7 billion, with EBITDA of RUB 12.6 billion.
Etalon Group’s GDRs have traded on the Main Market of the London Stock Exchange since 20 April 2011 and on the Level 1 quotation list of Moscow Exchange since 31 January 2020 under the ticker ETLN.
Etalon Group PLC MCX: ETLN
Share price
122.06 RUB 0.00 (0.00%)
13 May, 6:49 pm GMT+3 · Disclaimer
Leave a Reply