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Russia's MD Medical Group attracted $ 311 million at IPO in London
14.10.2012 21:38
Russia's MD Medical Group attracted $ 311 million at IPO in London

Russia's MD Medical Group, which owns the clinic chain “Mat’ I Ditya” in Russia, has raised $311 million for new and existing shares (about 35%) at initial public offering in London. The global depositary receipts (GDRs) were traded at $ 12, what put the clinic’s market capitalization at around $ 900 million.


      

MDMG was set up in 2010 and is controlled by Mark Kurtser a senior official in Moscow's health service. The group runs nine clinics, including Moscow's Perinatal care centre and such clinic chains as Mat' i Ditya, Ivamed, Clinic of Health and Dilamed.


      

The revenue of MDMG has raised 42% up to 2.91 billion Rubles, the net profit has increased 26% up to 924 million Rubles, reports Forbes.ru.


      

 




Author: Irina Fomina

Tags: Russian business IPO    

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