Lenta sets price range for $1bn stock offering

David Hellier
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BANKERS advising on the upcoming share listing of Lenta, the Russian hypermarket, are set to announce a price range that values the group between $4.1bn (£2.4bn) and $4.9bn.

The price range is on the large size and is likely to be narrowed over the next few weeks as institutional shareholders decide whether or not to commit to the stock. Lenta chief executive Jan Dunning has been on a road-show in London, New York and other European centres.

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