Russia's MDMG sets IPO price at $12 per GDR

MOSCOW, Oct 12 (Reuters) - Russian private healthcareprovider MD Medical Group said on Friday it had priced itsinitial public offering at $12 per global depositary receipt(GDR), raising $311 million assuming full exercise of anover-allotment option.

The company, which floated GDRs in London, said its marketcapitalisation will be around $900 million following the IPO,with a free float expected at approximately 35 percent.

The statement confirmed earlier Reuters report that MDMedical Group will sell shares at no less than $12 per GDR.

The offering included $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 Katya Golubkova; Editingby Douglas Busvine)

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Keywords: RUSSIA MDMG/IPO