February 15, 2013 / 6:41 AM / 5 years ago

Moscow's bourse IPO priced at bottom of range

MOSCOW, Feb 15 (Reuters) - The price for the Moscow Exchange’s stock market flotation has been set at 55 roubles ($1.83) per share, at the lower end of a guidance range, the bourse said on Friday.

The price implies total proceeds of 15 billion roubles and values the exchange at 126.9 billion roubles, or around $4.2 billion, the bourse said in a statement.

The price range was narrowed to 55-57 roubles on Thursday, financial market sources had said, down from the original 55-63 roubles. ($1 = 30.0877 Russian roubles) (Reporting by Maria Kiselyova; Editing by Jason Bush)

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