MOEX Launches Trading in United Medical Group GDRs

Moscow Exchange (MOEX) has launched trading in global depositary receipts (GDRs) representing shares of United Medical Group, which manages a chain of private clinics under the European Medical Center (EMC) brand. EMC's initial public offering (IPO) was conducted solely on the MOEX.

The opening ceremony was attended by MOEX Supervisory Board Chairman Oleg Viyugin, EMC CEO Andrey Yanovsky and EMC CFO Dmitry Shmelev.

The GDRs were admitted to trading in the Level 1 List; trading and settlement are conducted in RUB.

GDRs are available for trading in two tranches:

• GRS issued for ordinary shares of United Medical Group СY Plc, under Regulation S, ISIN US91085A2033, ticker GEMC.

• GRS issued for ordinary shares of United Medical Group СY Plc, under Rule 144А, ISIN US91085A1043, ticker EM44.

United Medical Group's offering size will amount to USD 500 mln, with the offering price of USD 12.5 per GDR. Following the IPO, United Medical Group's free float will be 44%. One GDR represents one ordinary share of the company.

Citigroup Global Markets Limited, J.P. Morgan AG and VTB Capital plc acted as joint global coordinators and joint bookrunners in connection with the Offering.

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Oleg Viyugin, Chairman of the Moscow Exchange Supervisory Board, said: "United Medical Group's IPO is the first initial offering of global depositary receipts solely on MOEX. This shows that MOEX is a growing platform that is becoming increasingly popular for all Russian companies no matter what country they are registered in. MOEX offers its issuers access to funds from Russian and international institutional investors and to nearly 13 million individuals holding brokerage accounts. Healthcare is a particular focus in Russia today, and we see it as a very positive development that companies in this sector are greatly valued by investors. I wish our new issuer success as a public company."