Railcar manufacturer United Wagon Company (UWC) announced the results of the secondary public offering (SPO) of its ordinary shares on the Moscow Exchange.
“We are pleased to announce the successful completion of the SPO and welcome our new shareholders. The company intends to use the raised capital to strengthen its balance and improve the financial flexibility to move closer to its strategic goals aimed to keep the company’s value growing,” Roman Savushkin, RPC UWC’s CEO, commented.
7,867,948 shares or 6.9% of the increased authorized capital have been placed under the offering raising a total of RUB 5.0 billion (67 million euros). The proceeds will increase UWC’s equity to RUB 80 bln (1 bn euros). The money will be used to reduce the current debt.
More than 70 institutional and retail investors have acquired the shares. United Wagon Plc., a subsidiary of ICT Holding Ltd., willing to maintain its stake in RPC UWC, has also invested in the shares.
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