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Article: Price range for Magnit SPO $12-$13.5 per GDR - source (Part 2).
- Article from:
- Russia & CIS Business and Financial Newswire
- Article date:
- October 26, 2009
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Price range for Magnit SPO $12-$13.5 per GDR - source (Part 2)
MOSCOW. Oct 26 (Interfax) - The price range for the SPO being carried out by Russian retailer Magnit (RTS: MGNT) will be $12-$13.5 per Global Depositary Receipt (GDR), a source with knowledge of the placement details told Interfax.
This corresponds roughly with Magnit's GDR price on the LSE on Friday. It was earlier thought the SPO would be held at a discount.
A source in financial circles told Interfax last week that Magnit planned to raise "$520-$530 million" with the SPO. He said 70% of the offering would be new shares and 30% existing shares.
"The road show that began on ...