Latham & Watkins Advises Renaissance Insurance on its IPO and Listing on the Moscow Exchange

Firm advises on IPO of one of Russia’s leading insurance providers.

October 28, 2021

Renaissance Insurance Group PJSC, a Russian diversified independent insurance company, today announces the final offering price for its initial public offering and listing of ordinary shares on the Moscow Exchange. The Offering Price has been set at RUB 120 per Ordinary Share, implying a market capitalisation of RUB 66.8 billion (USD 942 million) on a post-money basis. 

The Offering consists of an offering of 147.3 million new Ordinary Shares and 14.7 million existing shares that may be sold under the over-allotment option, representing up to 29.1% of Renaissance Insurance’s share capital following the sale of the offering Ordinary Shares in the Offering. Based on the Offering Price, gross proceeds to the Company will be RUB 17.7 billion.

Latham & Watkins represents Renaissance Insurance in the transaction with a team led by Moscow partners David Stewart and Olga Ponomarenko, with counsel Denis Ivanov and associate Nina Malkova.

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