Report: President: Azbuka Vkusa plans to hold IPO soon

MOSCOW, Dec 23 (PRIME) -- Russian retailer Azbuka Vkusa is considering holding an initial public offering (IPO) soon, President Denis Sologub told newswire RBC on Thursday. 

"We are considering going to the capital market soon because, on the one hand, the company has an ambitious development strategy for its foodtech, for extension of production, the growth of new areas and services, for instance, those around conscious eating and wellness in general," Sologub said.

He added that the company plans to float an up to 15% stake on the Moscow Exchange.

Sologub said that Azbuka Vkusa expects its revenue at 80 billion rubles with delivery contributing 7.5%. The net debt and earnings before interest, taxes, depreciation and amortization (EBITDA) ratio is 2.5, he added.

(73.7901 – U.S. $1)  

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