Source: IT solutions provider Softline’s IPO seen at $7.5/GDR

MOSCOW, Oct 26 (PRIME) – The group of companies Softline, a Russian provider of IT solutions, is to float its shares in an initial public offering at U.S. $7.5 per global depositary receipt (GDR), a financial source told PRIME late on Monday.

“Indicative demand exceeds the expected volume of the deal at this price,” the source said.

The initial guidance on the London Stock Exchange with a secondary listing on the Moscow Exchange was set at $7.5–10.5 per GDR.

Book building will close on Tuesday.

Softline intends to raise about $400 million with its capitalization ranging from $1.49 billion to $1.93 billion.

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