PIK Group, one of Russia’s leading residential real estate developers has announced the launch of an SPO on MICEX, coordinated by Sberbank CIB and VTB Capital who are also the bookrunners of the offering.

      The company is expecting to raise $150 million, which will be mainly used for deleveraging, with the placement price of RUR62.5 per share.

      PIK's majority shareholder Nafta Moskva, owned by billionaire Suleiman Kerimov, said it would definitely take part in the SPO.

      Nafta Moskva owns a 38.3 percent stake in PIK Group.