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FBK Legal Advises on SEVERALMAZ Issue of Shares

Russia
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FBK Legal's has announced that its Corporate department has assisted SEVERALMAZ in the placing of additional shares in the company by open subscription.

An FBK statement explained in addition that "Owing to the issue of additional shares SEVERALMAZ can attract additional investments to an amount of about RUB 16 billion." 

FBK Legal prepared a package of documents for the issue registration and a prospectus of the emission of shares. The Bank of Russia registered them on May 13, 2014. According to Dmitry Kudrin, the FBK Legal Corporate Practice lawyer heading the project, the plan is to complete the project by the end of the year, and "the final stage will be to have the report on the results of capital issue registered."

SEVERALMAZ, in Russia's Archangelsk Oblast, mines the Lomonosov diamond field, which is believed to have reserves of about 200 billion carats of rough diamonds.