UPDATE: Russia’s RDIF yield from sale of stake in ALROSA at 37%.
MOSCOW, Apr 14 (PRIME) -- The Russian Direct Investment Fund has fully sold its stake in uncut diamond mining giant ALROSA at a yield of 37%, the fund’s CEO Kirill Dmitriev said Thursday in a conference.
"We have finished our exit from ALROSA’s capital not so long ago…Our yield stood at more than 37% annually," he said.
In late March, Dmitriev said the sale of a part of the stake brought the yield of 35%. Previously, he said that the fund withdrawing funds from portfolio investment, and the RDIF has already sold its stake in telecom giant Rostelecom and a part of its stake in the Moscow Exchange.
Still, the fund may take part in privatization of ALROSA even though it has previously sold its stake. "We are now studying all possible privatization processes. When a final decision on the structure – whether a strategy or portfolio investors are to take part – is made, we will make a final decision on our investments," Dmitriev said.
"The fact that we have withdrawn from ALROSA’s portfolio does not mean that we will not take part in further privatization."
The Federal State Property Management Agency holds 43.93% in ALROSA, while the government of the republic of Yakutia holds 25% plus one share, an 8% stake is distributed among eight Yakutia’s regions, and 23.07% is free-float.