MHP Announces Range of USD 14-18.50 per GDR for London Share Offering

Mironovskiy Hleboproduct set the indicative price range at USD 14-18.50 per global depositary receipt for its offering on the London Stock Exchange, the company announced today. According to MHP, one GDR represents an interest in one ordinary share, which implies a pre-money equity value of approximately USD 1.4-1.85 bln. It is expected that the proposed offering will consist of at least 19% of MHP’s fully diluted share capital immediate after the offering. The company has appointed Morgan Stanley and UBS as joint global coordinators and bookrunners for the proposed offering.