MOSCOW Feb 14 Russian hypermarket retailer
Lenta set a price range for its initial public offering (IPO) of
between $9.5 and $11.5 per one global depositary receipt (GDR),
Kommersant newspaper said on Friday, citing a banking source.
According to the daily, five GDRs equal one Lenta share. The
roadshow starts on Feb. 14 and will last for two weeks. Lenta
could not be reached for immediate comment.
Lenta said earlier this month it would list its shares in
London, potentially raising at least $1 billion and tapping
demand from investors for consumer-focused businesses buoyed by
Russia's rising middle class.