OREANDA-NEWS. On April 17, 2007 Joint Stock Company Open Investments (JSC “OPIN” or the "Company") announced the offering price of the Rights Offering. The share price has been approved by the Board of Directors of the Company during the meeting that was held on April 16, 2007, following the expiration of shareholder preemptive rights, reported the press-centre of JSC “OPIN”.

The price of the Company's ordinary shares in the Rights Offering has been set at 4668 rubles 51 kopecks per share. Based on the rate of the Central Bank of the Russian Federation as of 16 April, 2007 this equates to approximately US$ 180,75 per share and US$ 22,59 per global depositary share of the Company ("GDS").

The Company plans to offer up to 1,798,063 shares corresponding to a total expected offer size of up to 8,394,275,096 RUB (equivalent to approximately US$ 325 million at the Central Bank rate as of 16 April, 2007).

It is expected that, upon the completion of the offering, approximately 60% of the Company's shares will be owned by Interros which intends to exercise its statutory pre-emption right in full, and the amount of the Company’s free float will be around 40%.
ING Bank and Renaissance Capital are acting as joint lead managers for the offering.