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Russian IT firm Softline valued at around $1.5 bln in London IPO

MOSCOW, Oct 27 (Reuters) – Russian IT firm Softline set its ultimate provide worth at $7.50 per world depositary receipt (GDR) for its preliminary public providing (IPO), the decrease finish of its goal vary, implying a valuation of around $1.5 billion, the corporate stated on Wednesday.

Softline stated it had raised $400 million in the provide of 53,333,334 GDRs representing newly issued strange shares on the London Stock Exchange, with a secondary itemizing due on the Moscow Exchange.

Softline, headquartered in London and working in greater than 50 international locations, stated as much as 8,000,000 GDRs have been being made accessible by sure current shareholders as an over-allotment choice.

Reporting by Alexander Marrow and Olga Popova
Editing by Peter Graff

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