Russian retailer Lenta IPO books fully subscribed

February 15, 2014

MOSCOW, Feb 15 (Reuters) - Russian hypermarkets chain Lenta's order book for its planned London stock market flotation is fully subscribed, including the over-allotment option, organisers of the deal told investors.

Lenta, part-owned by U.S. private equity firm TPG, said on Friday it had set a price range for the initial public offering at between $9.5 and $11.5 per global depositary receipt (GDR), valuing the company at up to $5 billion..

A roadshow for investors will run until Feb. 27, after which the offer price is to be announced. The over-allotment option is for an additional 15 percent of the volume.

The banks advising on Lenta's IPO are JPMorgan, Credit Suisse, UBS (Xetra: UB0BL6 - news) , Deutsche Bank (Xetra: DBK.DE - news) and VTB Capital. TPG Capital is acting as a co-manager while Rothschild is financial adviser to Lenta.