Nomos Bank said Monday that it would raise at least $718 million from its initial public offering in London and Moscow, making it the biggest by a Russian private issuer in the year to date.
The $35-a-share pricing was just above the middle of an original $32 to $37 range, which was subsequently narrowed during the bookbuilding process. Global Depositary Receipts were priced at $17.50 each.
Nomos managed its IPO, despite committing to invest just 5.5 billion rubles ($194.1 million) back into the bank, with the rest being pocketed by 18.7 percent shareholder Roman Korbacka. Credit Suisse, Deutsche Bank and VTB Capital acted as joint global coordinators of the offering.