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

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 Jan 2017
1 Citi 22,118.13 61 9.00%
2 Barclays 20,987.41 55 8.54%
3 JPMorgan 17,406.75 53 7.08%
4 HSBC 16,333.52 48 6.64%
5 Goldman Sachs 15,454.74 49 6.29%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Jan 2017
1 Commerzbank Group 114.00 1 66.16%
2 CaixaBank 37.05 1 21.50%
3 UniCredit 10.62 1 6.17%
3 BNP Paribas 10.62 1 6.17%
Subtotal 172.30 3 100.00%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Jan 2017
1 SG Corporate & Investment Banking 770.06 2 16.80%
2 Goldman Sachs 656.16 2 14.32%
3 JPMorgan 527.28 4 11.50%
4 Emirates NBD PJSC 408.38 1 8.91%
5 Deutsche Bank 321.53 3 7.01%