Moscow Bourse Raises $498 Million in IPO, Prices at Low End

The Moscow Exchange raised 15 billion rubles ($498 million) in the biggest initial public offering on Russia’s bourse since 2007, pricing at the bottom of its target range.

The deal values the exchange at 126.9 billion rubles, according to a website statement today. The shares were priced at 55 rubles each, the lowest end of the Moscow Exchange’s range of 55 rubles to 63 rubles. The stock, which trades under the MOEX RX ticker, closed unchanged at 55 rubles, according to data compiled by Bloomberg.