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DME Defers $1.5B London IPO

Russia’s DME has postponed its initial public offering due to unfavourable market conditions.

Russia’s DME has postponed its initial public offering due to unfavourable market conditions, The Wall Street Journal reports. The Domodedovo airport operator initially anticipated to raise as much as $1.5 billion through the sale of a 20% stake.

The shares were due to be listed on the London Stock Exchange. Goldman Sachs, JP Morgan Chase and Morgan Stanley were responsible for the offering. DME is valued at between $3.5 billion and $7.5 billion.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Financial Times.

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