Lenta sees off doubts to kick off bookbuilding

Lenta began bookbuilding on its $1bn IPO on Friday, seeing off worries that the deal might not even make that early stage after a rocky few weeks in emerging markets.

  • By Andrew Griffin
  • 14 Feb 2014

The selling shareholders are offering global depository receipts (GDRs) representing five shares each at $9.50-$11.50. They will sell 95m GDRs, representing 22.1% of the share capital, plus a greenshoe for 15% of the deal size.

That range values the company at $4.09bn-$4.95bn.

Bookbuilding will close on February 27.

The selling shareholders ...

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All International Bonds

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5 Goldman Sachs 68,504.71 208 6.06%

Bookrunners of All Syndicated Loans EMEA

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4 Citi 4,355.35 13 4.55%
5 SG Corporate & Investment Banking 4,273.37 17 4.46%

Bookrunners of all EMEA ECM Issuance

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