Russian retailer Lenta IPO books fully subscribed

Reuters - UK Focus

MOSCOW, Feb 15 (Reuters) - Russian hypermarkets chainLenta's order book for its planned London stock market flotationis 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 publicoffering 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 whichthe offer price is to be announced. The over-allotment option isfor an additional 15 percent of the volume.

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

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