RASP Shares for EVRAZ12 Jan 2022 15:59
It is proposed that the Demerger will be effected by EVRAZ making an interim in specie distribution of the shares it directly holds in RASP (being approximately 90.9% of the total ordinary shares in RASP), which is listed on the Moscow Exchange, to EVRAZ shareholders. If the Demerger proceeds, EVRAZ shareholders are expected to receive an entitlement to 0.4255477880 of a RASP share for each EVRAZ share held at 6:00 p.m. on 15 February 2022.
This is the official announcement. If I understand correctly, for each EVRAZ share, we will get 0.4255477880 RASP share. I won't hold the stock, which means I will get cash. Is that correct?
Also, RASP share is cheaper than EVRAZ share. Then why we are getting less money for each EVRAZ share we hold?