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Russia's TCS Group launches IPO to raise up to $750 mln

MOSCOW, Oct 3 (Reuters) - Russian TCS Group Holding, a parent company for credit card supplier Tinkoff Credit Systems on Thursday launched an initial public offering to raise up to $750 million.

TCS, founded and run by entrepreneur Oleg Tinkov, has been looking for outside funding to help to finance the company's growth plans.

The company said the offering would include a primary component - being sold by the company - of between $150 million and $200 million with the balance to be sold by Oleg Tinkov and other shareholders.