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MOSCOW, Oct 20 (PRIME) -- Russian shoe retailer Obuv Rossii is raising around 6 billion rubles in an initial public offering (IPO), the free-float is expected to account for 39.4% of the enlarged capital, the company said in a press release on Friday.
“The price of the offering was set at 140 rubles per share. The total volume of the offering amounts to around 6.2 billion rubles in case of the full execution of an option of additional placement or around 5.9 billion rubles without including the option of additional placement,” the statement said.
The market capitalization of Obuv Rossii after the IPO is expected to amount to around 15.8 billion rubles. The start of trading of the company’s shares is slated for Friday.
Over 30 institutional investors, including from the U.K. and Scandinavia, purchased shares in Obuv Rossii in the IPO, organizers of the deal said at a news conference.
Obuv Rossii said earlier it plans to sell up to 46.636 million shares including up to 42.396 million new shares, and up to 4.24 million existing shares owned by the founder and CEO Anton Titov.
(57.5706 rubles – U.S. $1)
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