April 21, 2008

Russian Agro Holding Pava Plans US$33 million secondary stock sale

Russian agro holding OAO Pava (AKHA.RS) plans to raise US$33 million from a secondary stock sale in London, the Kommersant daily reported Monday (April 21, 2008), citing a source close to the company.

Pava, which listed in Moscow in 2005, reported 2007 revenue of US$103 million.

BNP Paribas SA (BNPQY) will act as lead manager in the placement, Kommersant said.