TPG's Lenta to raise up to $1bn in IPO

The offering would give Lenta a market cap of up to $4.95bn and an enterprise value of up to $6.1bn.

Lenta plans on selling 95.2 million global depository receipts (GDR), five of which make up one share, at an indicative price range of $9.5-11.5 per GDR. The amount on offer represents a 22.1% stake in the company's existing share capital.

The selling shareholders in the IPO are TPG, which currently owns a 49.8% stake; the European Bank for Reconstruction and Development (EBRD), which holds 21.5%; VTB, which holds 11.7%; and other minority shareholders that collectively own a 15.9% stake.

For more information on Lenta's background, funding history and financial figures, please click here.

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