Moscow Exchange announces IPO details
The Moscow Stock Exchange has officially announced its IPO for 15 February and set the initial price range to $1.5–$2.1 per share (from 55 to 63 roubles per transaction). Experts have previously estimated the stock exchange’s capitalisation at $4.2 billion to $6.5 billion. Registration of applications to participate in the offers will be open from 4th February to 19:00 Moscow Time on 14th February. Trading in the stocks begins on the market on 15th February, the announcement said.
The shares will be offered by MICEX (Cyprus) Limited and MICEX-Finance, wholly owned subsidiaries of the Moscow Exchange. The flotation is expected to generate $500m, which includes $300m worth of secondary shares now held by existing shareholders, which are to be sold by MICEX (Cyprus) Limited, and $200m from shares to be offered by MICEX-Finance. In case of high demand the total value may be increased by $170m (5 billion roubles).
Full article was published in Vedomosti