B2B-RTS sets price range for IPO at 112-118 rubles/share, valuing co at 20 bln-21bln rubles

MOSCOW. April 10 (Interfax) - The price range for the initial public offering of PJSC B2B-RTS , the flagship company of a group that includes the operators of two electronic trading platforms and developers of purchasing solutions and services, has been set at 112-118 rubles per share, valuing the whole company at 20 billion-21 billion rubles, B2B-RTS said.

Bookbuilding begins on Friday, April 10 and will conclude by April 16.

The offering is a cash-out, meaning investors will be offered shares owned by existing shareholders: Sovcombank and financial investors. The selling shareholders plan to offer 11.5% of the company's stock, including a stabilization block of shares.

Given the announced price range, the IPO could raise 2.3 billion-2.4 billion rubles.

The block of shares held by management will remain unchanged. Sovcombank plans to retain a "substantial share" of B2B-RTS's equity and continue to be involved in the development of the platform's business.