(Adds sources on price guidance, demand)
MOSCOW, Oct 11 (Reuters) - Russian private healthcareprovider MD Medical Group will sell shares at no less than $12per global depositary receipt at its London initial publicoffering later this month, financial market sources said onThursday.
The company earlier on Thursday narrowed the price range forthe share sale to between $11.50 and $12.50 from an earlier$11.25 to $13.50, according to two sources close to the deal.
One of the sources said the order book was two timessubscribed.
The company has said it expected the total size of theoffering of new and existing GDRs to be between $295 million and$343 million, including an over-allotment option.
The offering includes $150 million of new GDRs to raisemoney to fund the expansion of the company's clinic and hospitalnetwork, as well as existing shares being sold by its mainshareholder, MD Medical Holding Limited.
(Reporting by Olga Popova; Writing by Maria Kiselyova; Editingby Mark Potter)
Keywords: MDMG IPO/RANGE