Published: October 12, 2012
Russian healthcare company will join London exchange with market cap of US$900mn.
MD Medical Group Investments, a Russian company specialising in women’s and children’s healthcare, has priced its IPO on the London Stock Exchange.
The company will issue global depositary receipts (GDRs) priced at US$12 each for a total deal size of US$311mn – giving the company a market capitalisation of some US$900mn. Unconditional trading in the GDRs is expected to start next week.
MD will use the proceeds from the offering to finance its capital expenditure programme, including building a new hospital in Ufa.
Commenting on the IPO, chairman Mark Kurtser said: “We are delighted with the positive response to our IPO which highlights strong investor appetite for industry-leading businesses in growing markets. Supported by the London listing, we are well placed to capitalise on opportunities to develop our network of healthcare centres and selectively enhance our service offering in Moscow and other economically attractive regions of Russia.”
Deutsche Bank and JP Morgan are acting as joint global coordinators and joint bookrunners.