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Russia's En+ prices IPO at $14 per GDR, valued at $8 billion

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Russia's En+ prices IPO at $14 per GDR, valued at $8 billion

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MOSCOW (Reuters) – Russia’s En+ Group, which manages tycoon Oleg Deripaska’s aluminium and hydropower businesses, priced its global depositary receipts at $14 in an initial public offering on Friday, at the lower end of its guided range. En+ said its post-money capitalisation amounted to $8 billion and the offering allowed to raise a total of $1.5 billion (1.15 billion pounds). AnAn Group, a partner of China’s CEFC, invested $500 million in the company’s GDRs, EN+ said in a statement.

(Reporting by Maria Kiselyova and Katya Golubkova; Editing by Maria Kiselyova)
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