Source: SPB Exchange final IPO price guidance at $11.5/shr

MOSCOW, Nov 17 (PRIME) -- Russia’s SPB Exchange, previously known as the Saint Petersburg Exchange, has set the final price guidance for its initial public offering (IPO) at U.S. $11.5 per share, a financial source told PRIME on Wednesday.

The initial guidance was set at $10.5–11.5 per share.

The final placement price can be announced on Friday, which is also the date for SPB Exchange to start trade in its shares.

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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