Russia's Promsvyazbank sets IPO price range

MOSCOW, Oct 3 (Reuters) - Promsvyazbank (PSB), one of Russia's largest privately owned lenders, set an indicative price range on Wednesday for its initial public offering of stock at $10-$12 per Global Depository Receipt.

The bank also said in a statement that it expects a price range of $13.33-$16 per 1,000 ordinary shares and sees the total deal size at between $345 million and $414 million.

In September, PSB asked Russia's regulator to approve the listing of no more than 25 percent of its shares in London in the form of GDRs. Sources said at the time the bank aimed to raise up to $500 million.

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

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