Moscow Exchange’s $500m float offers discount and dividends

04 Feb 2013

Moscow Exchange began bookbuilding on Monday for a Rb15bn ($504m) IPO that is set to give the company a post-money valuation of as much as Rb136bn.

Bankers set a range of Rb55-Rb63 per share on the domestic float, which at the bottom gives a 25% discount to Warsaw’s exchange. The company also announced a new dividend policy, paying almost twice as much as before, in a bid to entice investors.

The Rb15bn gross proceeds will ...

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