By Andrei Skvarsky.
Deutsche Bank and JP Morgan have organised what will be the first IPO of a Russian healthcare firm on the London Stock Exchange.
MD Medical Group Investments Plc, a leading provider of private health care for women and children, expects to raise between $295m and $343m via its IPO of global depositary receipts (GRDs), including an over-allotment option, according to international consultancy M:Communications.
The IPO would include newly issued shares to a total of $150m in addition to existing shares.
MD Medical Group is projected to have a post-IPO capitalisation of $855m to $995m.
One GDR would represent one ordinary share.
MD Medical Group has granted the bookrunners an over-allotment option to buy additional GDRs representing up to 15% of the GDRs sold in the IPO at the offer price to cover over-allotments, if any, in connection with the offering.
The IPO is likely to be followed by free float of about 35%, assuming full exercise of the over-allotment option.
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