MOSCOW, Mar 5 (PRIME) -- Russian discounter retailer Fix Price has raised the offer at the initial public offering (IPO) to U.S. $2 billion, and set the price at $9.75 per global depositary receipt (GDR), the company said in a statement on Friday.
"The offer consists of the sale of 178,372,354 GDRs with one underlying ordinary share of the company, which corresponds to the total base offer of approximately $1.7 billion and is approximately 21% of the share capital of Fix Price at the time of admission (to the auction)," the company said.
Some selling shareholders will provide an extra 26,755,852 GDRs in the framework of the placement, and if the securities are sold, the publicly traded GDRs of Fix Price will amount to 205,128,206 and account for 24.1% of the charter capital of the company.
The company accepted bids from Monday until Thursday and will announce the final price tentatively on Friday.
The GDRs will begin trading on the London Stock Exchange and the Moscow Exchange on March 10. BofA Securities, Citigroup, J.P. Morgan, Morgan Stanley, and VTB Capital act as the organizers of the IPO.
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