Support The Moscow Times!

MDMG IPO to Yield $311M

Private health clinics and hospitals company MD Medical Group's London share listing made a smooth start Friday, with the global depositary receipts trading at a 2 percent premium to their issue price of $12.

The firm said it expected the sale of new and existing shares to raise $311 million, assuming an overallotment option was taken up, and it put its market capitalization at about $900 million, with a free float of about 35 percent.

Russia's state-backed private equity fund RDIF, funds of asset manager BlackRock, private equity firm Siguler Guff's Russia Partners, and others spent $50 million in the share offer, according to RDIF.

(Reuters)

Related articles:

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

As we approach the holiday season, please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world’s largest country.