Mosgorlombard sets IPO price guidance at 3.1–3.5 rbl/share

MOSCOW, Dec 7 (PRIME) -- MGKL, parent holding company of pawnshop chain Mosgorlombard, has set the price guidance for an initial public offering (IPO) on the Moscow Exchange at 3.1–3.5 rubles per share, the company said in a statement on Thursday.

The company plans to offer 322.58 million new shares to achieve a free float of up to 36%.

Bidding will start and finish on December 13, and trading in the shares on December 14.

After the IPO the company, its affiliates and the key shareholders owning more than 84% of the common shares combined will take on standard obligations limiting the disposal of shares 180 days after the IPO. Investors participating in the IPO will get the right to buy more common shares for up to 20% of the total number of shares at the IPO price for six months.

(92.7826 rubles – U.S. $1)

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