13 Jul 2011 10:37

Placement price for PhosAgro's IPO comes to $14 per GDR, capitalization put at $5.2 bln

MOSCOW. July 13 (Interfax) - PhosAgro has set the placement price for its IPO on the London Stock Exchange at $420 per share, or $14 per Global Depositary Receipt (GDR), the company said in a statement.

On Tuesday, market sources said that PhosAgro narrowed the pricing guidance for its GDRs in the IPO to $14-$15. Earlier, sources said that the initial guidance came to $13.75-$15.75 per GDR. At the start of book-building on June 28 the announced guidance was $13-16.5 per GDR.

The company's capitalization following the IPO is valued at $5.2 billion.