Russia's Tinkoff Credit IPO to raise more than $1 bln -source

Reuters

MOSCOW, Oct 21 (Reuters) - Russian entrepreneur OlegTinkov's credit card business TCS is aiming to offer around $1.1billion in an upcoming London flotation - higher than the $870million previously expected, a financial market source said.

The increased size is coming from existing shareholdersselling more than previously planned, the source said. Existingshareholders who plan to reduce their stakes are Oleg Tinkov andhis private-equity backers - Vostok Nafta, Goldman Sachs,Baring Vostok and Ukraine's Horizon Capital.

The offer will still include the planned sale of new shares,raising $175 million for the company, the source said.

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