Oranta, Ukrainian Insurer, Sells 11% Stake for $39.7 Million
NASK Oranta, a Ukrainian provider of commercial and personal insurance, raised $39.7 million selling a 11.35 percent stake to private investors.
More that 20 investors from the U.S, Europe and bought shares, Dragon Capital investment brokerage, which managed the sale, said today in an e-mailed statement. Oranta\'s market value is $350 million after the sale, Dragon said.
Bank TuranAlem JSC, \'s second-biggest bank, acquired a 25 percent stake Oranta on Oct. 2 for $100.2 million.
Kiev-based Oranta controls 3.5 percent of the insurance market in and has 676 offices throughout the country, according to the company\'s Web site.