RPT-UPDATE 1-MD Medical Group raises $311 mln in London listing


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* GDR priced at $12.00, trading at $12.35 * Market capitalisation around $900 million * Free float 35 percent

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MOSCOW, Oct 12 (Reuters) - Russian private healthcareprovider MD Medical Group's London listing got off toa smooth start, with its global depositary receipts trading at a3 percent premium to their issue price on the first morning.

MD Medical Group said on Friday it would raise $311 millionfrom its initial public offering at $12 per GDR, assuming anover-allotment option was sold.

The deal came weeks after Russia raised 159 billion roubles($5.1 billion) selling a 7.6 percent stake in Sberbank, the country's biggest lender, in a sale seen openingthe door for other domestic names to tap positive investorsentiment towards emerging markets.

MD Medical Group said its market capitalisation will bearound $900 million, with a free float of about 35 percent.

Its GDRs were trading at $12.35 at 0855 GMT.

The offering included $150 million of new GDRs to fundexpansion of the company's clinic and hospital network, as wellas existing shares being sold by its main shareholder, MDMedical Holding Ltd.

MDMG has nine healthcare facilities, including a hospitaland eight outpatient clinics in Moscow, Perm, St. Petersburg andUfa.

Russian firms have been jostling to take advantage of arally in European stock markets.

MegaFon , the country's second biggest mobileoperator, was expected to raise up to $2 billion in an upcomingIPO in Moscow and London, while lender Promsvyazbankwas expected to raise around $400 million through an IPO inMoscow and London.

Deutsche Bank and JPMorgan were jointglobal coordinators and joint bookrunners on the MDMG deal.($1 = 31.0190 roubles)

(Reporting by Olga Popova; Additional reporting by MeganDavies; Writing by Katya Golubkova and Megan Davies; Editing byDan Lalor)

((ekaterina.golubkova@thomsonreuters.com)(+7 495 775 1242))