Fix Price set the final offer price for its initial public offering (IPO) at $9.75 per global depositary receipt (GDR), the top of its target range, implying a market capitalisation of $8.3 billion, the Russian retailer said on Friday.
Fix Price increases IPO volume amid high demand, deal could reach $2 bln, record for 11 years
MOSCOW. March 5 (Interfax) - Fix Price retailer has announced the price of its IPO, which has grown amid strong investor demand; the deal could be Russia s largest IPO since 2010, when Rusal placed an offering in Hong Kong, subject to the exercise of the organizers option for an additional placement.
The company said in a statement that it had set the placement price at $9.75 per share, which is the upper limit of the $8.75-$9.75 range. The estimate corresponds to total market capitalization for the company of $8.3 billion.
Russia’s answer to Poundland, Fix Price, today priced its London stock market float at $8.3 billion - right at the top of its previously-announced price range. Strong demand for the shares saw it set its stock at $9.75 per global depositary receipt - a type of stock similar to shares issued by companies trading shares on multiple exchanges. It is the largest Russian float since western sanctions started being imposed on the country in 2014. The.
Car seller Cazoo and Fix Price were the big beasts to announce IPOs while in the small-cap world we had ready meals delivery firm Parsley Box and Caerus Mineral Resources.