VTB Capital acquired seven percent of Alros

The head of the Russian government, Dmitry Medvedev, allowed to privatize 7 percent of the shares of the largest diamond company of the country of Alrosa. This is stated at the disposal of the Cabinet of Ministers of the Russian Federation published on the official website of the Government of Russia.

The buyer of a large package of shares was the company VTB Capital to the management of which 515 547 593 units of the shares of Alros will be transferred. The price of one share at the time of signing the order is 35 rubles apiece. At this price, the shares will be sold for further placement among investors, the transfer of shares will be held only after the receipt of the full prepayment to the current account of the Treasury of the Russian Federation.

As reported, interest in the shares of ALROSA was expressed by US investment funds specializing in metallurgical assets.

The privatization of the diamond company, according to officials, will contribute to the growth of revenues to the federal budget and will create conditions for its withdrawal to the international market. In addition, as stated in the certificate to the order of the Cabinet, the sale of a stake in ALROS will contribute to a change in the company's corporate management model.

On this Monday, promotions will begin to be sold on the Moscow Exchange.

AK "ALROSA" is the largest producer of diamonds in Russia, it accounts for about a quarter of the world and 97 percent of the extraction of all diamonds in the Russian Federation.