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Sitronics Details IPO

Sitronics prices its IPO at $0.24 per share and $12.00 per Global Depositary Receipt, with each GDR representing 50 ordinary shares

February 7, 2007

1 Min Read

MOSCOW -- JSC SITRONICS (“SITRONICS”), a leadingprovider of telecommunication solutions, including software, equipment andsystems integration, IT solutions and microelectronic solutions in Russia and theCommonwealth of Independent States with a strong presence in Central andEastern Europe and a growing presence in the Middle East and Africaannounced today that it has set the price of its offering (the “Offering”), ofordinary shares and Global Depositary Receipts (“GDRs”) representing interestsin its shares.

SITRONICS intends to list its GDRs on the London Stock Exchange. The ordinaryshares are listed on the RTS Stock Exchange and the Moscow Stock Exchange. TheOffering is subject to receipt of all necessary regulatory approvals by the UKFinancial Services Authority.

Details of the Offering are as follows:

  • The price for the Offering (the “Offer Price”) has been set at U.S.$0.24 perShare and U.S.$12.00 per Global Depositary Receipt (“GDR”), with each GDRrepresenting an interest in 50 ordinary shares.

    • The price for the Offering (the “Offer Price”) has been set at U.S.$0.24 perShare and U.S.$12.00 per Global Depositary Receipt (“GDR”), with each GDRrepresenting an interest in 50 ordinary shares.

    • The Offer Price results in SITRONICS having a market capitalization ofapproximately U.S.$2.3 billion (before exercise of the over-allotment option).

    • SITRONICS has also granted the underwriters an over-allotment option inrespect of an additional 125 million Shares in the form of GDRs.

    • SITRONICS’ free float will amount to approximately 17.5% of the Company’sissued share capital (before exercise of the over-allotment option).

    • The share mix in the Offering (before exercise of the over-allotment option) willbe 92.5% primary and 7.5% secondary.

    • SITRONICS’ GDRs will trade on the London Stock Exchange under the tickersymbol “SITR”.

    • SITRONICS’ shares are listed on the Moscow Stock Exchange and RTS underthe ticker symbol “SITR”.



    JSC Sitronics (London: SITR)

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