MOSCOW, Oct 11 (PRIME) -- Renaissance Insurance has set the price guidance for an initial public offering (IPO) at 120–135 rubles per share, the group said in a statement on Monday.
"The indicative price guidance of the offer was set at 120–135 rubles per common share. This means that the post-money market capitalization is to amount to 67.2–73.3 billion rubles," the statement read.
The final price is to be set after the bidding book closes on Monday and will be announced tentatively October 20.
Renaissance Insurance plans to offer up to 25.2 billion rubles of shares, excluding an additional placement option. The offer will comprise 18 billion rubles of primary and 7.2 billion rubles of secondary shares.
Credit Suisse, J.P. Morgan, and VTB Capital act as global co-coordinators and co-bookrunners, while BCS Global Markets, Renaissance Capital, Sberbank, Sova Capital and TCS Group act as co-bookrunners.
(71.9882 – U.S. $1)
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