Russian oil and gas pipe producer TMK will hold a roadshow for its secondary public offering (SPO) in England and the U.S on February 1-2, and will guide investors for a pre-market placement price of 74.5 rubles per paper, a banking source reported.

The bookbildung will be finished on February 2, the source said.

On January 31, TMK said it launched the SPO and would offer more than 138.888 million common shares to boost its free float. The company’s subsidiary Rockarrow Investments Limited will sell the shares, and TMK will spend the raised money to buy back its shares from VTB Bank under an option specified in an agreement with the bank, the company said adding that it would not spend more money on the buyback than it would raise during the SPO.

Credit Suisse Securities (Europe) Limited, Morgan Stanley & Co. International, and VTB Capital act as global coordinators of the offering. (Prime/Ukrainian metal)

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