Russian Helicopters, which designs and manufactures civil and military rotorcraft, has set a price guidance of $19-25 per Global Depositary Receipt ahead of an initial public offering (IPO) in London and Moscow, the firm said on Tuesday.
That price range values the company at $1.805-2.375 billion.
Russian Helicopters plans to announce the placement price on May 11, while the main trading session will start on May 16.
The company intends to hold an IPO by placing ordinary shares held by its core shareholder, Oboronprom state defense industry holding, and new shares represented by GDRs, in London and Moscow to raise $500 million. One GDR represents one ordinary share.
The firm has announced it intends to use the proceeds to pay off debt and fund some mandatory tender offers for shares in its subsidiaries.
Bank of America Merrill Lynch, BNP Paribas and VTB Capital have been appointed as joint global coordinators and bookrunners.
MOSCOW, April 26 (RIA Novosti)
