Russian property developer Teorema is planning an initial public offering of global depositary receipts (GDRs) on the London Stock Exchange, to finance the expansion of its property portfolio. The company is looking to raise $500 mln (EUR 341 mln) through the IPO before the end of this year. 'The offering is intended to assist us in expanding our property portfolio through the acquisition of new sites for future development,' said board member Igor Vodopianov.
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