Delimobil increases IPO to 4.2 bln rubles amid strong demand

MOSCOW. Feb 5 (Interfax) - PJSC Carsharing Russia, which provides carsharing services under the Delimobil brand, has announced that it is increasing the size of its initial public offering amid strong interest from institutional investors in the course of bookbuilding.

"Given high demand, the company has decided to increase the size of the offering to 4.2 billion rubles, including shares making up the possible stabilization in the amount of up to 15% of the offering," Delimobil said in a press release.

The company initially said it expected to raise up to 3 billion rubles with the IPO. At the time, price range for the IPO was set at 245-265 rubles per share, valuing Delimobil

at 39.2 billion-42.4 billion rubles, before a new share issue.