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

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

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

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

The offering included $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 Katya Golubkova; Editing by Douglas Busvine)

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

Keywords: RUSSIA MDMG/IPO