College Hill to handle Moscow float of world's largest diamond miner

The world's largest diamond mining company, Alrosa, has called in College Hill to handle comms for its offering on the Moscow Stock Exchange.

Alrosa: World's largest diamond miner by output
Alrosa: World's largest diamond miner by output

The state-owned firm plans to sell a 16 per cent stake to outside investors, raising up to US$1.5bn (£930m).

Based in the regions of Yakutia, in north-eastern Russia, and Arkhangelsk, in north-western Russia, Alrosa was established in 1992. In 2012 it produced 34.4 million carats of rough diamonds, accounting for 27 per cent of the world’s rough diamond output.

In the six months ended 30 June 2013, the company produced 17.1 million carats of rough diamonds.

The Russian government is the largest shareholder in the firm, accounting for 51 per cent of the company, with the Republic of Sakha (Yakutia) owning 32 per cent.

College Hill’s Tony Friend, Leonid Fink, Galyna Kulachek and David Simonson will handle the account.

Paul Downes, chief executive of College Hill Capital Markets, said the transaction "marks an important milestone for both the company and the ongoing privatisation programme in Russia".

He added: "It is a great business with an exceptionally experienced senior management team.  We are committed to developing further our activities in Russia and CIS, and with our expanded team look forward to a number of exciting projects over the next few months and beyond."

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Latest Articles

John Lewis to tell brand story with "tasteful" 150th anniversary celebrations

John Lewis to tell brand story with "tasteful" 150th anniversary celebrations

Department store John Lewis is to use its 150th anniversary this year to talk about its history, which "not enough people know about", according to director of communications Peter Cross.

Labour hires Obama election strategist David Axelrod to fight General Election

Labour hires Obama election strategist David Axelrod to fight General Election

The man who helped Barack Obama win the 2008 and 2012 US presidential elections is to work for Labour along with members of his team.

Sky adds Fever PR to its roster after splitting with Cake

Sky adds Fever PR to its roster after splitting with Cake

Pay-TV giant Sky has added Fever PR to its agency line-up for a wide-ranging brief covering products and services.

Max Clifford trial jury to continue deliberations after Easter break

Max Clifford trial jury to continue deliberations after Easter break

The jury in the trial of celebrity publicist Max Clifford has been sent home for Easter and will reconvene on Tuesday for further deliberations about its verdicts on 11 charges of indecent assault.

Home Office brings in Munro & Forster to campaign against FGM

Home Office brings in Munro & Forster to campaign against FGM

The Home Office has tasked Munro & Forster (M&F) with supporting its campaign to eradicate female genital mutilation (FGM) as part of a wider retained brief.