MOSCOW -(Dow Jones)- Russia's LSR Group Wednesday said it plans to float its shares in Moscow and London in a deal that could generate up to $1.4 billion to bolster the company's real estate and building materials businesses.
LSR, which operates in and around the city of St. Petersburg, plans to list 15% of its shares sometime in November, a person familiar with the situation told Dow Jones Newswires.
Banks organizing the offering have valued the company at between $8 billion and $9 billion, implying a deal size of $1.2 billion to $1.4 billion, this person said.
