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Moscow Exchange sets IPO range at 55-63 rbls/share-sources
February 1, 2013 / 3:15 PM / 5 years ago

Moscow Exchange sets IPO range at 55-63 rbls/share-sources

MOSCOW, Feb 1 (Reuters) - The Moscow Exchange, Russia’s main venue for trading in stocks, bonds, forex and derivatives, has set a price range for its initial public offering at 55-63 roubles ($1.83-$2.10) per share, two sources close to the deal told Reuters on Friday.

Sources said last week that shareholders in the Moscow Exchange are expected to sell stock worth at least $500 million. The exchange is valued at between $4.2 billion and $6.5 billion by the banks organising the IPO.

Both sources said that an investor roadshow for the deal, to be done on the exchange’s own platform, would begin on Feb. 4. The Moscow Exchange declined to comment. ($1 = 30.0152 Russian roubles) (Reporting by Olga Popova and Zlata Garasyuta; Writing by Katya Golubkova; Editing by Douglas Busvine)

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