Phosagro has raised $540 million in an initial public offering (IPO), Financial Times reports. The offering by the Russian fertilizer group valued the company at $5.2 billion.
The proceeds from the offering are likely to increase to $594 million if an overallotment option is taken. Citi, Renaissance Capital, Troika Dialog, Credit Suisse and BMO Capital Markets were appointed as joint book running managers, while Raiffeisen acted as co-lead manager on the deal.
