Global Ports Investments has sold shares worth $534 million in an initial public offering (IPO), The Wall Street Journal reports. The total size of the offering may increase to $588 million if the company’s book-runners exercise an over-allotment option to buy additional 25% of shares.
The Russian container-terminal operator intends to use the net proceeds from the offering to fund its capital investment programs in the Russian ports segment, adds RTT News. Deutsche Bank, Goldman Sachs, Morgan Stanley and Troika Dialog were the joint book-running managers for the IPO.
Click here for the story from The Wall Street Journal.
Click here for additional coverage from RTT News.
