Polina Deripaska now owns 6.9% of En+
She got the company shares worth approximately $500-600 million right before the IPO.
Polina Deripaska turned out to be the owner of a 6.9% stake in En+, as it follows from the prospectus listing the company on the London Stock Exchange. Her package is estimated at $500-600 million based on the company's current valuation.
Polina Yumasheva (the daughter of Valentin Yumashev, the former head of Boris Yeltsin’s administration) and Oleg Deripaska got married in 2001. There was no prenuptial agreement between them; "It seems to me that this is not customary in Russia," Polina Deripaska said in 2008.
En+ announced an IPO placement price range of $14-17 per GDR today, which corresponds to the assessment of the entire company (before the proceeds from the placement of new shares), $7-8.5 billion. It is assumed that, without taking into account the additional placement option, the offer will amount to 15.8-18.8% of the company's total authorized capital.
The prospectus stressed that in October 2017, En+ issued ordinary shares and transferred them to Polina Deripaska. The transfer is encumbered by a call option, whereby Oleg Deripaska can receive this package under his direct or indirect control, the prospectus noted. The conditions of the option are not disclosed.
Deripaska owns En+ through two companies: B-Finance Limited (61.55%) and Basic Element Limited (21.10%); VTB owns another 4.35% and can sell the package until December 2018.