TCS Bank to launch IPO road show Oct 14, pricing slated for end of month

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TCS Bank to launch IPO road show Oct 14, pricing slated for end of month - sources

MOSCOW. Oct 4 (Interfax) - TCS Bank, controlled by businessman Oleg Tinkov, will kick off a road show for an IPO on October 14, and pricing is to take place either October 25 or 28, two financial sources told Interfax.

TCS Group Holding is going to place up to $750 million worth of global depository receipts (GDR) and realize $150-$200 million in proceeds. Tinkov and other shareholders will take the rest, TCS said.

The placement organizers are Goldman Sachs International, Morgan Stanley, Sberbank CIB, J.P. Morgan, and Renaissance Capital. The agent is Pareto Securities AB.