(Bloomberg) -- Fix Price’s initial public offering in London and Moscow will raise at least $1.7 billion, on track to be the biggest listing from a Russian company in more than a decade, possibly prompting more share sales from local issuers.

Russia’s biggest dollar-store chain priced 178 million global depositary receipts, representing one ordinary share each, at the top end of an initial $8.75 to $9.75 range, according to a statement Friday. The sale values Fix Price at $8.3 billion.

Proceeds from Russian IPOs and secondary public offerings could reach more than $10 billion this year after a long fallow period, according to VTB Capital. This could make 2021 the biggest year for Russian share sales since before international sanctions were imposed on the country in the wake of its annexation of Crimea in 2014.

Online retailer Ozon Holdings Plc had a $1.3 billion U.S. IPO in November, and more deals are lining up, with gold miners Nord Gold SE and GV Gold PJSC said to consider going public.

Fix Price could sell another 27 million GDRs from an over-allotment option, bringing the deal size to as much as $2 billion. That would mark the biggest IPO from a Russian company since United Co. Rusal Ltd.’s Hong Kong listing in 2010, which raised $2.2 billion.

If allocated in full, 24% of Fix Price’s total share capital will be publicly traded.

Fix Price, which uses a model similar to Dollar Tree Inc. in the U.S., has prospered as Russian wages have stagnated since the 2014 collapse of the ruble. It operates more than 4,200 stores and had revenue of 190 billion rubles ($2.6 billion) last year.

BofA Securities, Citigroup Inc., JPMorgan Chase & Co, Morgan Stanley and VTB Capital are joint global coordinators and bookrunners on the IPO.

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