15 Oct 2013 09:51

TCS Bank IPO fully subscribed in one day - sources

MOSCOW. Oct 15 (Interfax) - The order book for the depository receipts that Russia's TCS Bank is offering in an IPO on the London Stock Exchange was fully subscribed on Monday, the day it opened, two banking sources told Interfax.

The pricing is scheduled for the end of next week. The road show began on October 14.

The bank said on Monday that the price range for the offering has been set at $14-$17.50 per GDR, which values the whole bank at $2.6 billion to $3.2 billion.