(This content was produced in Russia where the law restricts
coverage of Russian military operations in Ukraine)
MOSCOW, April 25 (Reuters) - Russian biotech firm
Genetico raised 178 million roubles ($2.2 million) on
Tuesday in an IPO on the Moscow Exchange - only the second
Russian stock market launch since Moscow sent tens of thousands
of troops into Ukraine last year.
An unprecedented package of Western sanctions and Russian
countermeasures have effectively cut Russia's financial markets
off from Western capital over the last 14 months and forced many
Russian firms who were looking to go public to reconsider.
Genetico, a subsidiary of the Human Stem Cells Institute , sold 10 million shares - representing 12% of the
company's total equity - for 17.88 roubles ($0.2192) a piece in
its IPO on Tuesday, the company said in a statement.
($1 = 81.5455 roubles)
(Reporting by Olga Popova; Writing by Jake Cordell
Editing by Gareth Jones)
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