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Mostotrest Raises $388M

Mostotrest raised $388 million in an initial public offering after pricing shares at the bottom of its $6.25 to $8 range, the construction company said.

Mostotrest sold 62 million shares at $6.25 apiece, valuing the company at $1.6 billion. Deutsche Bank,

JPMorgan Chase and Troika Dialog managed the sale, Mostotrest said in a statement last week.

“The success of the IPO is evidence of the high potential and broad opportunities of the Russian infrastructural sector in the securities market,” Andrew Chulack, head of global banking at Deutsche Bank in Russia, said in e-mailed comments. The IPO attracted the most demand from Britain, with its institutions representing 57 percent of the offering, he said.

(Reuters)

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