Russia's M.Video sets price guidance below market
MOSCOW, Sept 20 |
MOSCOW, Sept 20 (Reuters) - Price guidance for a secondary share offering by Russian electronics retailer M.Video is set at 255-265 roubles ($8.17-$8.49) per share, a source close to the deal said on Thursday.
That compares with a Wednesday closing price of 284.99 roubles per share. Its shares were down 7.19 percent to 264.50 roubles by 0757 GMT on Thursday.
The deal's bookrunner Deutsche Bank said on Wednesday M.Video's controlling shareholder Svece, which represents the interests of M.Video's CEO Alexander Tynkovan's family members, was selling 18 million shares, equal to 10 percent, via an accelerated offering.
($1 = 31.2149 Russian roubles) (Reporting by Zlata Garasyuta; Writing by Maria Kiselyova; Editing by Jason Bush)
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