Russian fertilizer holding company PhosAgro has set the price guidance for its stock flotation in an initial public offering in London at $13-16.50 per Global Depository Receipt (GDR) or $390-495 per share, the company said on Tuesday.
PhosAgro is valued at $4.8-6.1 billion, PhosAgro said in a statement without disclosing the size of the offering.
One share is equal to 30 GDRs, the firm said.
PhosAgro CEO Maxim Volkov has said the company may sell from 10 to 15 percent of its stock.
The IPO lead managers have been granted a 15 percent over-allotment option.
