Russian retailer Lenta IPO books fully subscribed
MOSCOW (Reuters) - Russian hypermarkets chain Lenta's order book for its planned London stock market flotation is fully subscribed, including the over-allotment option, organizers of the deal told investors.
Lenta, part-owned by U.S. private equity firm TPG TPG.UL, said on Friday it had set a price range for the initial public offering at between $9.5 and $11.5 per global depositary receipt (GDR), valuing the company at up to $5 billion.
A roadshow for investors will run until February 27, after which the offer price is to be announced. The over-allotment option is for an additional 15 percent of the volume.
The banks advising on Lenta's IPO are JPMorgan, Credit Suisse, UBS, Deutsche Bank and VTB Capital. TPG Capital is acting as a co-manager while Rothschild is financial adviser to Lenta.
(Reporting by Olga Popova; Writing by Lidia Kelly, editing by David Evans)
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