Last checked at 16 May 2013 15:16
OJSC PHOSAGRO - PhosAgro Raises Over USD 210 mln in Add. Share IssueOJSC PHOSAGRO - PhosAgro Raises Over USD 210 mln in Add. Share Issue
PR Newswire
London, May 16
PhosAgro Raises More Than USD 210 mln in Additional Share Issue
Moscow - PhosAgro (Moscow Exchange, LSE: PHOR), a leading global verticallyintegrated phosphate-based fertilizer producer, announces that it has raisedmore than USD 210 million through a new share issue.
In total 5,022,920 shares were subscribed to under the new share issue. All ofthe orders were accepted, paid for in full by the buyers and the allotmentshave been transferred to them.
Including the newly-issued shares, the total number of PhosAgro ordinary shareswith a nominal value of RUB 2.50 per share now equals 129,500,000.
As a result of the listing of the newly-issued shares, PhosAgro's total freefloat is now 19.2%.
The proceeds from this transaction will be used by PhosAgro for financing theconsolidation of minority stakes in key production facilities, as well asongoing modernisation and development projects.
PhosAgro's Board of Directors on 9 April 2013 approved the price of USD 42.00per share for the additional share issue. The approved price for thenewly-issued shares corresponded to the offer price for 11,111,000 existingshares sold by a group of the Company's shareholders that preceded thebeginning of PhosAgro's new share issue.
PhosAgro's Board of Directors on 19 October 2012 approved a share issuanceprospectus and a capital increase. Both the capital increase and the shareissuance prospectus were registered by the FSFM on 15 November 2012.
For further information please contact:
OJSC PhosAgro
+7 495 231 2747Irina Evstigneeva, Head of Corporate Finance and Investor RelationsTimur Belov, Press Officer M:Communications Sam VanDerlipvanderlip@mcomgroup.com+44 (0) 20 7920 2356 Notes to EditorsPhosAgro is a leading global vertically integrated phosphate-based fertiliserproducer. The Group focuses on the production of phosphate-based fertilisers,feed phosphate and high-grade phosphate rock (with P2O5 content of not lessthan 39 percent), as well as ammonia and nitrogen-based fertilisers.
The Group is the largest phosphate-based fertiliser producer in Europe, thelargest producer of high-grade phosphate rock worldwide and the second largestMAP/DAP producer in the world (excluding China), according to Fertecon.PhosAgro is also a leading producer of MCP feed phosphates in Europe, and theonly producer in Russia.
PhosAgro has 2.1 billion tonnes of resources (according to JORC) of highquality apatite-nepheline ore, representing over 75 years of production. TheGroup also controls substantial Al2O3 resources and has 41% of Russia's rareearth oxides resources according to the G.P. Luzin Institute of EconomicProblems of the Kolskiy Scientific Centre of the Russian Academy of Sciences,2010).
The Group's mines and phosphate rock production facilities are located in themountainous areas of the Kola Peninsula in the Murmansk region of northwestRussia, whereas its fertiliser and feed phosphate production assets are locatednear the city of Cherepovets in the Vologda region and near the city ofBalakovo in the Saratov region of southwest part of European Russia.PhosAgro’s 2012 IFRS revenue was over USD 3.4 bln and EBITDA was USD 1.1 bln.The Сompany’s net debt/EBITDA ratio was 0.77 at 31 December 2012.
For further information on PhosAgro please visit: www.PhosAgro.com