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Russian retailer Lenta sets price at $10 per GDR for London IPO-source
February 27, 2014 / 8:32 PM / 4 years ago

Russian retailer Lenta sets price at $10 per GDR for London IPO-source

MOSCOW, Feb 27 (Reuters) - Russian retailer Lenta has set a price for its planned London stock market listing at $10 per global depositary receipt (GDR), closer to the lower limit of the initial range of $9.5-$11.5, a source close to the placement said on Thursday.

The hypermarket chain could raise up to $952 million in a deal which also provides for a 15 percent overallotment option.

The listing will be carried out on the LSE and MICEX and trading was expected to start on Friday.

The company is expected to maintain 22.1 percent of shares in free float after the IPO, which does not include the option.

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