Lenta $275 million secondary public offering

Overview:

• Russian hypermarket chain Lenta completed a $275 million public offering of global depository receipts, dually listed in London and Moscow.
• The offering comprised a $150 million primary tranche, representing 4.3% of Lenta shares, and a $125 million secondary tranche representing a sale by the European Bank for Reconstruction and Development, which meant reducing its stake in Lenta from 11.5% to 7.4%
• Credit Suisse Securities (Europe), JPMorgan Securities and VTB Capital acted as managers on the deal.

Jon Moore - Journalist