Delimobil valued at 39.2 bln-42.4 bln rubles before new share issue for IPO, aims to raise up to 3 bln rubles

MOSCOW. Jan 29 (Interfax) - The price range for the initial public offering of carsharing service Delimobil has been set at 245-265 rubles per share, the company said in a press release on Monday.

The company's charter capital is now split into 160 million shares, so the company is being valued at 39.2 billion-42.4 billion rubles ahead of the IPO, before a new share issue.

The company will preliminarily gather orders for the IPO from January 29 to February 5.

"The basic size of the IPO will be no more than 3 billion rubles. The funds raised in the IPO will be used to further develop the business, reduce the debt burden and for general corporate purposes," Delimobil said.

The company said that premarketing generated tentative demand for the declared amount of the IPO within the announced price range from the "largest Russian management companies and other institutional investors."

Delimobil officially announced its plans for an IPO on the Moscow Exchange on January 23 and last Friday the exchange said it has granted Delimobil shares access to trading starting February 6.

The company expects its shares to start trading by February 7.