* Phosagro biggest shareholders raise $252 mln in share
* The Guryev family to buy a 2.7 pct stake from a partner
* Russian companies back on track with equity deals
(Adds RDIF-led investment details)
By Olga Popova, Olga Sichkar and Maria Kiselyova
MOSCOW, Feb 9 The controlling shareholder in
Russian fertiliser producer Phosagro has sold a 4.5
percent stake in the company, raising 14.9 billion roubles ($252
million) in the Moscow share market's third offering so far this
Investors, both international and domestic, are making a
cautious return to the Russian market, encouraged by early signs
of economic recovery and higher oil prices. Reuters reported the
forthcoming Phosagro offer earlier this week.
Russian toy seller Detsky Mir and steel pipes producer TMK
have raised cash via share sales this year. Phosagro
is set to benefit as the global fertilisers market is due to
rebalance thanks to reduced supply from China.
Shares in Phosagro, one of the world's largest producers of
phosphate rock, hit their highest level of more than 3,000
roubles last month, the first time since August 2015, as the
company has benefited from the weak rouble giving it lower costs
and higher export revenues.
Phosagro said on Wednesday that the offering of existing
shares, made via an accelerated book building, was priced at
2,550 roubles per share, a 6 percent discount to Tuesday's
closing price and in the middle of the earlier prospective
Andrey Guryev, deputy chairman of the board of directors,
and members of his family have sold a 4.5 percent stake in the
company, aiming to use some of the proceeds to buy a 2.7 percent
stake from their partner Igor Antoshin.
The Guryev family will retain a total of 43.66 percent stake
in Phosagro after both transactions, the company said.
The Russian Direct Investment Fund (RDIF) said it had formed
a consortium comprising leading investors to participate in the
"The RDIF-led consortium will include six leading sovereign
wealth funds from Asia and the Middle East, as well as other
investors," RDIF said.
A banking source and two sources close to the deal told
Reuters the RDIF-led consortium had bought Phosagro shares worth
around $100 million. RDIF declined to comment.
A source familiar with the offering said earlier RDIF was
eyeing up to $200 million worth of Phosagro shares. A number of
other companies, including En+ and Rusal, are
considering equity offerings this year.
(Additional reporting by Anastasia Lyrchikova and Polina
Devitt; Writing by Vladimir Soldatkin and Katya Golubkova;
Editing by Greg Mahlich)