Yakutia does not plan to reduce its stake in ALROSA
The republic will save its share in the ALROSA Yakut Diamonds Company
Yakutia 24 TV channel: The republic and its regions do not plan to reduce their stake at ALROSA Diamond Company. Head of the region Aisen Nikolaev announced this during a telephone conference with the enterprise.
“In the near future, the Republic and regions do not plan to reduce their share in ALROSA, which today totals 33%,” he said.
The state, represented by the Federal Property Management Agency, owns 33,02% of ALROSA shares, Yakutia owns 25% and the republic districts have 8%. Almost 34% of the shares are in free float.
In 2017, the state planned to reduce its stake in ALROSA by 2019, but the discussion on this topic was discontinued due to the unfavorable market situation. Aisen Nikolaev also stated that the sale of part of ALROSA rough diamonds in Gokhran is not a basic scenario, however, this measure can be considered in case of a drop in demand for diamonds due to decrease at market.