Lenta IPO organisers set price range of $10-11 per GDR -source

MOSCOW Tue Feb 25, 2014 2:07pm EST

MOSCOW Feb 25 (Reuters) - Organisers for Russian hypermarkets chain Lenta's planned London stock market listing have specified a price range of $10-$11 per global depositary receipt (GDR), a source close to the placement said on Tuesday.

The source said that books are covered with a price of $10.50 per GDR.

The banks advising on Lenta's initial public offering (IPO) are JP Morgan, 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 Thomas Grove; Editing by Timothy Heritage and Pravin Char)