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ABB - Abb News Story

$33.98 0.7  2.2%

Last Trade - 4:16pm

Sector
Industrials
Size
Large Cap
Market Cap £47.58bn
Enterprise Value £48.85bn
Revenue £19.09bn
Position in Universe 189th / 6851

UPDATE 1-Co-owner of Russia's NLMK sells 2.1% stake

Thu 3rd December, 2020 7:15am
(Adds NLMK's comment)
    MOSCOW, Dec 3 (Reuters) - Russian businessman Vladimir
Lisin, who controls NLMK  NLMK.MM , has sold about 128 million
shares, or a 2.1% stake in the steel producer via an accelerated
bookbuilding (ABB), NLMK said in a statement on Thursday.
    Lisin's stake in NLMK, Russia's largest steel producer, fell
to 79.3% after the deal, while NLMK's free float rose to 20.7%,
increasing the liquidity in the company's shares, NLMK added.
    NLMK did not disclose the price of the deal in its
statement.
    The deal was priced at $25.35 per global depositary receipt
(GDR), a financial market source told Reuters. NLMK's GDRs
closed at $26.78 per one receipt in London on Wednesday.
 urn:newsml:reuters.com:*:nFWN2II13G  urn:newsml:reuters.com:*:nL8N2II56F

 (Reporting by Olga Popova and Polina Devitt; writing by Polina
Devitt; Editing by Christopher Cushing and David Evans)
 ((Polina.Devitt@thomsonreuters.com))
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