SPB Exchange sets IPO placement price at $11.5/share

MOSCOW, Nov 18 (PRIME) -- Russia’s SPB Exchange, previously known as the Saint Petersburg Exchange, has set the placement price of its initial public offering (IPO) at U.S. $11.5 per share, the bourse said in a statement on Thursday.

Trading in the shares of the exchange will start on the SPB Exchange and on the Moscow Exchange on Friday.

The exchange plans to sell up to 12.5% of the current shareholder equity, or up to 14.3 million shares, and raise around $150 million.

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