Wigmore Street Investments No. 3 Limited, the second largest shareholder of the British-based Ferrexpo mining company, has sold 63 million Ferrexpo shares or approximately 10.7 percent of the company’s share capital, during the secondary placing of part of its stake in the mining company among institutional investors. The company issued the statement on the website of the London Stock Exchange.
According to the statement, the securities were placed at a price of 110 pence (133 cents) per share, raising aggregate gross proceeds of approximately GBP 69 million (USD 83.9 million).
Following settlement of the placing, which is expected to take place on 1 November 2016, Wigmore Street Investments will hold approximately 13.2% of Ferrexpo's existing issued share capital, the statement said.
Wigmore Street Investments No. 3 Limited has agreed that it will not offer, sell, or otherwise transfer any shares from its remaining shareholding in the company for a period of 90 days following the completion of the placing.
The second public offering was managed by the global investment bank J.P. Morgan Cazenove.
Ferrexpo is iron-ore mining company with assets in Ukraine. It is the largest producer and exporter of ore pellets in the CIS. The company ranked third among the world's largest producers and exporters of ore pellets for blast furnaces at the end of 2015, when it increased its output by 5.8% to 11.7 million tons and its export sales volume by 1.5% to 11.3 million tons.
Wigmore Street Investments No. 3. Limited is is a subsidiary of CERCL Holdings Limited, a joint venture between the BXR Group and Zdenek Bakala and his family interests.
The largest shareholder of Ferrexpo is Kostiantyn Zhevaho, who owns a 50.3% stake in the company through Fevamotinico S.a.r.l.
