Magnit successfully raises $413m, Globaltrans on track

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Magnit successfully raises $413m, Globaltrans on track

April 16, 2008 12:00 am

Russian food retailer Magnit this morning priced its follow-on equity offer and London GDR listing. Lead managers Deutsche Bank and Morgan Stanley priced the shares at $42.50 and GDRs at $8.50. A greenshoe option could add another $21.53m to the deal. Meanwhile, Russian rail freight operator Globaltrans set a price range for its London flotation of a 29% stake that could raise up to $509m, also via Deutsche and Morgan Stanley. Both deals will encourage equity markets in limbo. Read how the market reacts in EuroWeek on Friday.

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