Baltic Classifieds aims for up to $1.3 bln valuation in London IPO

LONDON, June 22 (Reuters) - Online advertising group Baltic Classifieds expects to be worth up to 950 million pounds ($1.32 billion) when it lists on the London Stock Exchange after setting a price range of 1.40 to 1.90 pounds a share, according to a bookrunner on the deal.

The group, which runs classified advertising sites across the Baltic region, plans to sell up to 238 million pounds worth of its shares in its initial public offering this month. Around 120 million euros of that sale will be new shares and the rest will be sold by existing investors, including its majority owner, private equity firm Apax Partners.

Its shares are expected to start trading on June 30.

$1 = 0.7193 pounds Reporting by Rachel Armstrong, editing by Louise Heavens