<p> Lenta, Russia’s second largest grocery chain partly-owned by U.S. private equity group TGP Capital, has raised more than $950 million in its initial public offering, valuing the company at approximately $4.3 billion, according to Financial Times. The offering size may increase to $1.1 billion if the banks exercise an over-allotment, or “greenshoe” option.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> The company reportedly priced its IPO in Moscow and London at $10 per global depository receipt. While interest was heavy among investors, pricing for the shares may have suffered due to the political turmoil in Ukraine. Natalya Kolupaeva, an analyst at ZAO Raiffeisenbank in Moscow, said that the IPO “was a success given very turbulent markets and investor concerns over the ruble rate and Ukraine,” according to Bloomberg.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> The company’s shareholders, which include TPG, the European Bank for Reconstruction and Development, and Russian state lender VTB, sold a 22.1% stake in the company in the IPO.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Credit Suisse, JP Morgan, VTB Capital, Deutsche Bank, and UBS are acting as bookrunners, while TPG Capital is acting as co-manager. Rothschild is acting as financial adviser to Lenta. </p><hr class="legacyRuler"><hr class="invisible minimal-padding">
