Renaissance Insurance Group JSC, Russia’s largest online policy provider, set a price range for its initial public offering in Moscow that values the company at as much as 73.3 billion rubles ($1 billion).

That’s the top end of the 120 rubles to 135 rubles per share range proposed to investors, the Russian insurance group, controlled by investors led by Boris Jordan, said in a statement on Monday. The sale may total up to 25.2 billion rubles, including an offering of up to 7.2 billion rubles of shares by selling shareholders.

Credit Suisse Group AG, JPMorgan Chase & Co. and VTB Capital are acting as joint global coordinators and joint bookrunners, with BCS Global Markets as senior bookrunner. Renaissance Capital, Sberbank PJSC, Tinkoff Bank JSC and Sova Capital are acting as joint bookrunners, according to the statement.

The company may seek a valuation of around $1 billion, a person familiar with the plans said in September. Shareholders may offer a stake of about $150 million, several people said at the time.

Selling shareholders include Sputnik Management Services Ltd and its affiliate Holding Renaissance Insurance LLC, which represents the group of investors led by Jordan; Baring Vostok through Notivia Ltd; companies owned by Evraz Plc billionaires Alexander Abramov and Alexander Frolov; and Andrey Gorodilov, who worked at Roman Abramovich’s oil producer Sibneft and was later deputy governor of Chukotka.

Photograph: A computer displays the company website inside a Renaissance Insurance office in Moscow, Russia, on Wednesday, Sept. 15, 2021. A Russian insurance company backed by billionaire Roman Abramovich has picked banks to prepare it for an initial public offering, according to two people familiar with the matter. Photo credit: Andrey Rudakov/Bloomberg.