April 11 (Reuters) - Russian genetics company Genetico
set the price for its initial public offering (IPO) at 17.88
roubles ($0.2180) per share for its upcoming listing on the
Moscow Exchange, the group said on Tuesday.
The company, a subsidiary of Russian biotech group Human
Stem Cells Institute , is set to place 10 million
shares, representing 12% of the company's equity. Trading on the
Moscow Exchange is set to begin on April 25.
Genetico, whose laboratories provide medical genetic
services to healthcare professionals and patients, said it plans
to use the funds raised to develop its products in Russia, enter
foreign markets, register new test systems and create candidate
drugs for the treatment of rare diseases.
The placement is being organised by Moscow-based investment
groups Alor and IVA Partners.
($1 = 82.0305 roubles)
(Reporting by Olga Popova; Editing by Sharon Singleton)
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