EMC clinic chain may hold IPO on Moscow Exchange

MOSCOW, Jun 28 (PRIME) -- United Medical Group CY, managing European Medical Center (EMC) clinics, plans to hold an initial public offering (IPO) of global depositary receipts (GDRs) on the Moscow Exchange, the company said in a statement on Monday.

“United Medical Group CY… working under the European Medical Center brand is announcing its intention to hold an IPO of GRDs, registering right for common shares of the company, on the Moscow Exchange,” the company said.

Under the IPO, the securities will be offered by INS Holdings Limited, whose beneficial owner is Igor Shilov, controlling 71.2% of the company, Hiolot Holdings Limited, whose beneficial owner is Yegor Kulkov, owning 20.8%, and Greenleas International Holdings LTD with Roman Abramovich as a beneficial owner and a shareholding of 6.9%.

An overallotment auction of 15% of the GRDs is expected. The securities are to be listed in the tier 1 quotation list.

Citigroup Global Markets Limited, J.P. Morgan AG and VTB Capital Plc are the co-global coordinators and the co-bookrunners.

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