Reuters 12 October 2012
Russian private healthcare provider MD Medical Group’s (MDMGq.L) London listing got off to a smooth start, with its global depositary receipts trading at a 3 percent premium to their issue price on the first morning.
MD Medical Group said on Friday it would raise $311 million (193 million pounds) from its initial public offering at $12 per GDR, assuming an over-allotment option was sold.
The deal came weeks after Russia raised 159 billion roubles ($5.1 billion) selling a 7.6 percent stake in Sberbank (SBER.MM), the country’s biggest lender, in a sale seen opening the door for other domestic names to tap positive investor sentiment towards emerging markets.
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