UPDATE 1-Globaltrans fundraising seen near $16.50/GDR - sources

MOSCOW, July 11 (Reuters) - Banks managing Globaltrans Investment's share sale have been guiding towards $16.50 per global depositary receipt, just below the middle of the range indicated by the Russian freight operator, two sources said on Wednesday.

Globaltrans had said on Monday it planned to raise around $450 million through a share sale at an indicated price of $16.00-$17.25 per GDR, giving it added firepower to expand and make possible further acquisitions.

Of the shares being issued, $400 million are being sold by the company and $50 million by major shareholder N-Trans, a privately owned transport group which trades as TIHL and is controlled by three businessmen.

TIHL's owners - Andrey Filatov, Nikita Mishin, and Konstantin Nikolaev - are self-made billionaires worth $1.3 billion each, according to Forbes magazine.

Under an over-allotment option, underwriters can purchase up to an additional $50 million GDRs at the offer price. Following the share sale, the company's free float will rise to 48 percent from 35.3 percent.

All $500 million was subscribed, sources said on Tuesday. [ID :nL6E8I906D]

Deutsche Bank, JPMorgan, Morgan Stanley and Troika Dialog are joint global coordinators and joint bookrunners for the share offering, the company said.