Obuv Rossii to offer about 40% shares in IPO on Moscow Exchange

MOSCOW, Sep 26 (PRIME) -- Group of companies Obuv Rossii, one of Russia’s biggest shoe retailers, plans to offer about 40% shares in an initial public offering (IPO) on the Moscow Exchange, it said in a statement on Tuesday.

The raised funds will be used to expand the retail chain, develop distribution channels and for other corporate purposes.

Founder and CEO Andrei Titov will remain the major shareholder following the IPO.

BCS Global Markets, Citigroup, Renaissance Capital and Sberbank CIB will act as global co-coordinators and co-bookrunners.

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