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Russia’s PIK mulls SPO to increase liquidity – CEO – Metro US

Russia’s PIK mulls SPO to increase liquidity – CEO

Construction worker operates at Russian real estate developer PIK Group’s
Construction worker operates at Russian real estate developer PIK Group’s construction site in Mytischi outside Moscow

MOSCOW (Reuters) – Russian real estate developer PIK is considering options to increase its free float, including a secondary share offering, as it approaches the requirements for the MSCI index inclusion, chief executive Sergei Gordeev said on Thursday.

“We are considering various options to increase the liquidity and free float of our stock, including an SPO, with the possibility to raise new capital given our ambitious growth plans,” Gordeev said in an email to Reuters.

“A definitive decision with respect to any specific course of action will be taken later depending on market conditions.”

(Reporting by Tatiana Voronova; Writing by Olzhas Auyezov; Editing by Katya Golubkova)

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