Mosgorlombard lowered the IPO price and extended the period for collecting applications – Kommersant

The parent company of Mosgorlombard, PJSC MGKL, extended the collection of applications for the initial public offering of shares (IPO) and reduced the price range from 3.1-3.5 rubles. up to 2.5–2.55 rub. per share. This is stated in message on the company website.

“During the preliminary collection of applications, we also tried to answer questions as openly and in detail as possible and talk about the advantages of our investment idea. Nevertheless, the collected volume of applications does not allow us to talk about achieving the goals of the transaction,” the press service quotes the words of the general director of Mosgorlombard, Alexei Lazutin.

He added that the decision to change the placement parameters was made so that the maximum number of investors could take part in the IPO. The new period for preliminary collection of applications will last from December 21 to December 27 inclusive.

The first collection of applications for the placement began on December 7 and was scheduled to end on December 13, 2023. At the beginning of December, Mosgorlombard announced an IPO with listing on the Moscow Exchange under the cash-in scheme – all raised funds must be directed to the company. On December 12, the company announced the extension of the collection of applications for the purchase of shares until December 21 to “satisfy the interest of a wide range of Russian investors.”

Read more in the Kommersant article. “Mosgorlombard has collected applications for answers”.

Petr Buzlaev