Russian bank raises $ 718 in IPO offering in Moscow and London

LONDON, April 19 (Itar-Tass) - Russia's eighth largest lending
organization, NOMOs Bank, has raised $ 718 million in the London-Moscow
initial public offering, the Financial Times newspaper said. The company
will be priced at $17.50 per global depository receipt, or in the middle
of its initial guidance of $16-$18.50, while its Moscow-listed shares will
be equal to two GDRs, the FT said.
The listing will give Nomos a market capitalisation of $3.2bn, with an
initial free float of 22 per cent.
If an overallotment of shares is exercised, the free float will rise
to 25 per cent, increasing the size of the offering to more than $800m,
the FT indicated.
"The offering, which was oversubscribed, is a boost for Russian
issuers, which got off to a rocky start this year when three companies
from the region were forced to pull London listings and a fourth company
lowered its pricing range," the newpaper said.
"The listing comes as a stream of Russian issuers attempt to list in
London, despite an uncertain outlook amid turmoil in the Middle East and a
worsening of the eurozone debt crisis," the FT said.