The Russian Direct Investment Fund (RDIF) said that a number of leading foreign investors from America, Middle East, Europe and Southeast Asia invested in Alrosa’s IPO.
The IPO valued Alrosa, currently the world’s largest diamond producer by output in carats, at RUR257.7bn ($8.15bn).
The company expects to raise $1.3bn via the IPO, which is at the bottom of its previously announced range.
US asset management group Lazard was the largest investor in the IPO, buying up to two-thirds of the 14 per cent stake, according to Reuters.
RDIF’s recent deals included an investment in Russia’s largest telecommunications company Rostelecom.
The state-backed fund and Deutsche Bank invested $237.1m in the telecommunications company, which said it would use the funds to “further develop and strengthen” its market position.
The Russian Direct Investment Fund (RDIF) was founded in June 2011 to make equity investments, primarily within Russia.
RDIF’s management company is a 100 per cent subsidiary of Vnesheconombank.
Earlier in 2013 RDIF director Sean Glodek told AltAssets RDIF was preparing for its busiest year on record in an attempt to put Russia on the private equity map.
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