Fix Price sets GDR price guidance for IPO at $8.75–9.75/security

MOSCOW, Mar 1 (PRIME) -- Russian discounter retailer Fix Price has set the global depositary receipt (GDR) price guidance for an initial public offering (IPO) at U.S. $8.75–9.75 per security, the company said in a statement on Monday.

The range corresponds to market capitalization of $7.4–8.3 billion.

The company accepts bids from Monday until Thursday and will announce the final price approximately on Friday. The offering amounts to 170 million GDRs and the placement amount is $1.5–1.7 billion.

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