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Russia's Lenta seeks to raise $150 million by issuing new shares
October 20, 2015 / 3:25 PM / 2 years ago

Russia's Lenta seeks to raise $150 million by issuing new shares

MOSCOW, Oct 20 (Reuters) - Russian retailer Lenta said on Tuesday it planned to raise around $150 million by placing global depositary receipts (GDRs), for which it was issuing new shares, to accelerate its expansion.

Lenta added in a statement that the European Bank for Reconstruction and Development also planned to sell around $100 million worth of GDRs as part of this transaction, with an option to increase this sale to $150 million. (Reporting by Alexander Winning; editing by Polina Devitt)

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