(Reuters) - Russian fuel retailer Eurotrans has raised around 13.5 billion roubles ($150 million) in an initial public offering, the company said on Tuesday.
Eurotrans said the deal valued the company at 40 billion roubles. It plans to use the funds to expand its network of gas stations and electric vehicle charging stations.
The stock fell 4.7% to 238.25 roubles shortly after trading in it opened on the Moscow Exchange.
The exchange said in a statement that the Eurotrans deal was the fifth initial offering this year and it expected a few more before the end of the year.
($1 = 89.7230 roubles)
(Reporting by Reuters; Editing by Kirsten Donovan)
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5d. change
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|---|---|---|---|---|---|
| - PTS | -.--% | -13.86% | - | ||
| 91.33 RUB | -0.13% | -0.84% | - | ||
| - PTS | -.--% | -.--% | - | ||
| 2,729 PTS | -0.03% | +1.57% | - | ||
