Retailer Henderson sets price range of 600-675 rubles/share for IPO - company

MOSCOW. Oct 25 (Interfax) - Russian men's fashion retailer Henderson has set the price range for its initial public offering at 600-675 rubles per share and will begin taking bids on Wednesday, the company said in a statement.

The price values the company at 21.6 billion-24.3 billion rubles before an anticipated additional share issue.

The final placement price is expected to be announced on or around November 2, when the company's shares will begin trading on the Moscow Exchange .

The IPO could raise up to 3.63 billion rubles and result in a free float of up to 15%. Most of the offering is expected to consist of a new share issue of up to 3 billion rubles.

Group founder and principal shareholder Ruben Arutyunyan, who owns 99.95% of the company, might sell up to 300 million rubles worth of shares, which will create additional liquidity for the shares on the secondary market and optimize allocations to investors.

Arutyunyan will also provide shares totaling up to 10% of the basic amount of the IPO for possible stabilization in secondary trading.