MOSCOW, October 15 (RIA Novosti) - Uralkaly [RTS: URKA], Russia's biggest producer of potassium fertilizers, said Monday it had raised $947.97 million from an initial public offering (IPO) on the London Stock Exchange and Russian bourses.
Uralkaly, which exports about 90% of its products and is the world's fourth largest producer of potash, said it had floated 270,847,953 shares or 12.75% of its equity in the form of shares and Global Depositary Receipts (GDRs), with one GDR equaling five common shares.
Uralkaly offered its stock at $3.5 per share and $17.5 per GDR, which reflected investors' increased interest in the potash producer, the company's statement said.
