Acron sets $120-150/shr range for London float

MOSCOW, July 23 (Reuters) - Russian fertiliser producer Acron (AKRN.MM) has set a price range of $12 to $15 per Global Depositary Receipt (GDR) and $120 to $150 per share for its GDR listing on the London Stock Exchange, the company said.

Acron said in a statement it plans to sell up to 10 percent of its stock through the listing on the London Stock Exchange, the proceeds of which will be invested in upgrades to the company's existing production facilities.

Shares will be offered by Acron's subsidiary, Dorogobuzh, and other entities controlled by the principal beneficial owner of Acron, the company said late on Tuesday.

Ten GDRs represent an interest in one share.

Acron has appointed Morgan Stanley (MS.N) and UniCredit (CRDI.MI) as joint global coordinators and joint bookrunners, and Alfa Capital Markets as co-lead manager.

Acron shares on the Moscow Interbank Currency Exchange closed on Tuesday at 2,800 roubles ($120.7), up 2.23 percent. ($1=23.19 Rouble) (Reporting by Robin Paxton; Editing by Lincoln Feast)