On June 2, the Bank of Russia made a decision on the state registration of an additional issue and registration of a prospectus of ordinary shares of ALMAR – Arctic diamond Joint stock Company, placed by open subscription. The additional issue of securities was assigned the registration number 1-01-01597-G.
The decision on the state registration of an additional issue of shares and on the registration of a prospectus of shares when the company acquires public status shall enter into force from the date of entry into the unified state register of legal entities of information on the company’s brand name, containing an indication that the company is public.
According to the registered prospectus, it is planned to place 21,805 ordinary shares (15%) with a nominal value of 1 ruble in addition to the already existing 123,564 shares of the company. The placement is planned to be held on the St. Petersburg Stock Exchange in the summer of 2022. It is assumed that Russian brokers, including ITI Capital and IFC Solid, will participate in the organization of the initial placement of shares, applications can also be submitted through Tinkoff Bank. The technical underwriter will be SPB Bank (formerly called Best Efforts Bank). Legal support is provided by VTB Registrar. Preparation of the company for listing was carried out by the qualifying agent of the junior segment of the St. Petersburg Stock Exchange – IC Polarctic Capital.
During the placement of shares, ALMAR plans to raise about 700 million rubles to complete exploration, confirm reserves and design the development of two placer diamond deposits for open-pit mining. According to the plan, exploration will be completed in 2022, confirmation of reserves is expected in 2023. Since 2024, the company intends to produce more than 1 million carats of diamonds per year. The main markets are India and China, where ALMAR plans to export most of its products.
“The decision to register the securities prospectus of ALMAR – Arctic diamonds is another milestone on the company’s path to the public stock market. The acquisition of public status will allow the company to reach a new level, ensure the sustainability of development through access to the stock market and increase investment attractiveness. ALMAR conducts its activities responsibly and transparently, disclosing all essential information publicly. The securities prospectus will allow our future investors to get acquainted with the basic information about the upcoming placement“, — Andrey Karhu, CEO of ALMAR.
The securities prospectus of PJSC ALMAR is placed in the section Investors/Information Disclosure.