MOSCOW, Feb 14 (Reuters) - 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.