Russia: EMC prices Moscow IPO at bottom of US$12.50 – US$14.00 per GDR range

Coin in denomination of 1 Russian ruble on a pile of other coins in front of symbolic out-of-focus fragments of the Moscow Kremlin

United Medical Group, a multidisciplinary healthcare services provider in Russia operating under the European Medical Center brand, has priced its IPO of GDRs on the Moscow Exchange at the bottom of the marketed US$12.50 – US$14.00 range to raise total gross proceeds of approximately US$500m (assuming no exercise of the repurchase option). The offering consists…

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