OREANDA-NEWS. October 29, 2009. Magnit will raise USD 520 mn in an SPO at USD 13 per GDR. The Russian retailer has set the placement price for its SPO at USD 13 per DGR, close to the ceiling of the earlier bookbuilding range of USD 12.0-13.5.

The SPO will allow the retailer to raise proceeds equal to some USD 520 mn. In early October, FSS registered Magnit’s additional issue of 11.15 mn shares to be offered in Russia and abroad. The company’s GDRs currently trade at USD 12.3 on LSE. The retailer’s GDR/share ratio is 5:1.