Russian retailer Lenta shares dip on London IPO debut — RT Business:
"Shares in Russian hypermarket chain Lenta have dipped on the first day of trading on the London Exchange. The company only managed to raise $952 million in its IPO, short of the estimated $1 billion.
Lenta, trading under the ticker symbol ‘LNTA:LI’ fell to $9.735 at 8:10a.m. in London, before recovering to $9.94 at 11:03a.m.
A $10.00 share price was decided on Thursday, after the company narrowed the price range twice. The original global depository receipt (GDR) range was set at $9.50-$11.00 on February 14, which would have set an upper range market capitalization at $4.95 billion. The upper limit was reduced to $10.25 on Thursday, with the company valued at $4.32 billion.
Trading on the Moscow Stock Exchange, MICEX, will begin on March 6."
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