MKB Investments completes subscriptions for Detskiy Mir shares earlier than expected

MKB Investments announced it has stopped accepting bids for Detskiy Mir shares for Gulf Investments Limited on the Moscow Exchange earlier than expected.

Bids for a total amount of 25 percent of the outstanding shares (including those submitted to the IRC - R.O.S.T independent registrar) have been accepted, no more orders are accepted.

Settlement for all the accepted bids has been completed in accordance with the rules of the Moscow Exchange. As for the bids filed with the IRC - R.O.S.T, they have been completed in compliance with the memorandum terms.

According to Rita Rubezhnaya, Head of Investment Products at MKB, north of 2,300 bids came in just two days from a wide range of Russian and foreign investors, which allowed to fully meet the target numbers.

“After we accepted the target number of bids, we made a decision to stop taking book orders early. We’d like to thank the Moscow Exchange that gave us the platform and made the procedure for investors fast and simple,” Rubezhnaya said.

Orders were submitted as per the trading regime known as "buyback: direct orders." The bid price per share was set at 160 rubles.

The standard lot size was equal to one share. The price tick was set at 0.02 rubles.