The Russian hypermarkets group led by the Dutch businessman Jan Dunning has narrowed the price range for new stock that will be issued in its imminent London listing. The price range for Lenta is now between $10 and $11 per global depositary receipt (GDR), compared to an earlier range of $9.50 and $11.50. Five GDRs will represent an interest in one Lenta share. This values the group at between $4.3bn-$4.7bn. Bankers say the books are covered at the mid-point of the new range, with some institutions still to decide. Pricing is expected tomorrow.