Stock Groups

Russia’s PIK mulls SPO to increase liquidity

by Mike Robinson

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© Reuters. FILE PHOTO – A worker at the Russian realty developer PIK Group’s construction location in Mytischi near Moscow, Russia (June 3, 2015) REUTERS/Maxim Shemetov

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.

Gordeev stated in an email to Reuters that he was considering various options for increasing the liquidity and free float our stock. He also mentioned an SPO with the potential to raise capital due to our ambitious growth plans.

Market conditions may lead to a decision about a particular course of action being made later.

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