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10.06.2010

Russia's Diod sets price range for public offering

 Russian biomedical plant Diod has set a price range of 30.55 to 40.74 roubles ($0.96-$1.28) per share for its June initial public offering in Moscow, its bookrunner said on Wednesday.

Diod, which makes biologically active additives among other products, said last month it plans to list up to 25 percent of its shares.

Sources have said the company could raise up to $25 million through the IPO which would value it at up to $120 million.

The order book opened at 0800 GMT on Wednesday and will close on June 22, Vladislav Kochetkov, head of investment company Finam which is organising the deal, said.

($1=31.74 ROUBLE)


Source:  www.iii.co.uk

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