GO
Loading...

Russia's MDMG narrows IPO price range-sources

Thursday, 11 Oct 2012 | 6:16 AM ET

MOSCOW, Oct 11 (Reuters) - Russian private healthcare provider MD Medical Group narrowed the price range for its London share sale to between $11.50 and $12.50 per global depositary receipt from an earlier $11.25 to $13.50, two sources close to the deal said on Thursday.

The company had expected the total size of the offering of new and existing GDRs to be between $295 million and $343 million, including an over-allotment option.

Order books on the offering, which includes both new and existing shares, are fully covered, three sources close to the deal told Reuters this week.

The offering includes $150 million of new GDRs to raise money to fund the expansion of the company's clinic and hospital network, as well as existing shares being sold by its main shareholder, MD Medical Holding Limited.

(Reporting by Olga Popova; Writing by Maria Kiselyova; Editing by Douglas Busvine)

((maria.kiselyova@thomsonreuters.com)(+7 495 775 1242)(Reuters Messaging: maria.kiselyova.thomsonreuters.com@reuters.net))

Keywords: MDMG IPO/RANGE