Reuters: Financial Services and Real Estate: Russia O1 Properties set price $11-$13/share in IPO

Reuters: Financial Services and Real Estate Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Russia O1 Properties set price $11-$13/share in IPO May 1st 2012, 07:23 MOSCOW | Tue May 1, 2012 3:23am EDT MOSCOW May 1 (Reuters) - Russian real estate investment company O1 Properties on Tuesday announced a price rage of $11-$13 per share for its initial public offering in London, aiming to raise approximately $425 million via the sale. The IPO would be Russia's biggest since fertiliser group Phosagro raised $538 million in London just before equity markets slumped last July. Morgan Stanley and VTB Capital are acting as joint global coordinators of the offering. Morgan Stanley, UBS Investment Bank and VTB Capital are acting as joint bookrunners, and UniCredit Bank as the co-lead manager of the offering. "The proceeds of the offering to O1 Properties will be used principally for the funding of two secured acquisitions of yielding Class A business centres in Moscow and repayment of borrowings," the company said in a statement.

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