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Nomos IPO Raises $718M

By The Moscow Times

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.

(Reuters)

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