Food retailer O'Key plans to raise $400-500 mln in London IPO

© Kaihsu TaiLondon Stock Exchange
London Stock Exchange - Sputnik International
Subscribe
Russian food retailer O'Key plans to hold an Initial Public Offering this year to raise $400-500 million via a placement of Global Depositary Receipts on the London Stock Exchange, a banking source said on Tuesday.

Russian food retailer O'Key plans to hold an Initial Public Offering this year to raise $400-500 million via a placement of Global Depositary Receipts on the London Stock Exchange, a banking source said on Tuesday.

Analysts say that the company could be valued at $1.7-2 billion.

"The road show starts on October 18, the placement volume as well as the price guidance will be set by that time," the source told RIA Novosti news agency.

Goldman Sachs International and Russia's VTB Capital investment company were appointed lead managers and bookrunners.

Funds raised in the IPO will be used to develop the company's hypermarket and supermarket network.

RMG investment company analyst Yekaterina Andreyanova said that the IPO would be good for the company, because its main competitors, retailers X5 and Magnit had already floated their shares.

 

MOSCOW, October 5 (RIA Novosti)

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала