Tuesday April 22, 01:07 PM
Russian, CIS companies listed on LSE total 100 after Magnit admission
LONDON (Thomson Financial) - London Stock Exchange Group Plc. said the number of companies from Russia and the Commonwealth of Independent States listed on the LSE has reached 100, following the start of trading of Russian retailer OJSC Magnit on Tuesday.
Magnit, one of the largest retail chains in Russia with over 2,200 stores, and selling shareholder Lavreno Limited offered 11,517,400 shares in the form of ordinary shares and Global Depositary Receipts.
The GDRs were priced at $8.50. The company said it plans to use the proceeds of around $490 million to expand its chain of hypermarkets and convenience stores.
At 12:32 p.m., Magnit GDRs were trading at $9.20.
The LSE said companies from the CIS have raised $41.8 billion via IPOs on London's Main Market and AIM. In addition, CIS companies have raised $3.6 billion through further issues on AIM and over $27.5 billion through bond issues on the LSE.
The LSE said over $946 billion has been traded in securities from CIS companies of which $887 billion was traded in GDRs on the Exchange's International Order Book.
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