Arenadata IPO priced at upper end of price range, values co at 19 bln rubles

MOSCOW. Oct 1 (Interfax) - PJSC Arenadata, a Russian developer of data storage and analysis software previously known as ADS Holding, set the price for its initial public offering on the Moscow Exchange at 95 rubles per share, the company reported.

This is the upper end of the announced price range of 85-95 rubles per share and corresponds to a market capitalization of 19 billion rubles for the group.

The offering will total 2.7 billion rubles, including the stabilization shares, the company said.

Current shareholders are selling 28 million shares in the IPO, including 2.8 million shares that can be used to stabilize the price in secondary trading for up to 30 days after trading starts. The company itself is not raising any funds.

Following the IPO and until the end of the stabilization period the company's free float will be 14%.

Institutional investors received 57% of the allocation, 27% went to retail investors and 16% to partners of the selling shareholders.