The Guernsey registered company specialises in commercial real
estate in Russia, focusing on the acquisition and development of
high quality warehouse complexes and their subsequent leasing to
Russian and international tenants.
The ordinary shares, preference shares and warrants of the
company are all admitted to trading on the Main Market of the LSE.
The ordinary shares have a premium listing, meanwhile the
preference shares and warrants have a standard listing. Each class
became dual listed on the CISE from Tuesday 17May.
Glyn Hirsch, Group Chief Executive of Raven Russia, said:
"We're very pleased to have listed on the CISE. Raven
Russia has been quoted on the LSE for a number of years but we are
a well-established Guernsey company, employing 17 people in the
Island and so it makes sense to utilise the local infrastructure
and show our commitment to the community by dual listing on the
Raven Russia has also announced a proposed fundraising of a
minimum of £105.5 million by way of a placing of new
convertible redeemable preference shares with the intention that
they will be listed solely on the CISE and traded on the SETSqx
platform of the LSE.
Mr Hirsch added: "The Russian economy is weak and the
currency is suffering as a result but even during these times we
are still profitable and in fact, we see a number of opportunities
which is why we are seeking to raise further funds. We have a small
number of very large institutional investors who are extremely keen
to participate and in these circumstances then it is preferable to
have a listing on the CISE. The Exchange is known for its
responsiveness and we have found the team to be extremely
approachable so it has been a very positive experience."
CISE Chief Executive Fiona Le Poidevin said: "I'm
delighted that Raven Russia has chosen to list on the CISE. The
company has strong foundations in Guernsey but is truly
international in nature so it is a huge endorsement of the Exchange
that it has chosen to add to its quotation on the LSE with a
listing on the CISE.
"We have had a very positive start to the year, with more
new listings and increased diversification in the type of business,
which is illustrated by Raven Russia. I am extremely pleased with
how things are developing and excited by the plans we have in place
for the rest of 2016."
Jon Ravenscroft, Group Chief Executive Officer of listing
sponsor Ravenscroft, said: "It's been a pleasure working
with Raven Russia on this transaction and I believe that there is
significant potential for more businesses to follow in their
footsteps with a listing on the CISE."
Observing a recent discussion between the children of a successful entrepreneur, I was reminded once again of the potential impact of family members being provided with differing information about the family enterprise.
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