Report: Russia’s Detsky Mir can hold IPO in Hong Kong

MOSCOW, Jan 22 (PRIME) -- Russian children goods retailer Detsky Mir is considering holding an initial public offering (IPO) at the Hong Kong Stock Exchange, key shareholder of Detsky Mir’s parent holding Sistema Vladimir Yevtushenkov told channel Rossiya 24 in an interview broadcast Friday.

“(A Detsky Mir’s IPO) is on the agenda, it is not urgent but it is on the agenda for certain. Our delegation has just come back from Hong Kong…We are very interested in the Hong Kong bourse,” Yevtushenkov said. Detsky Mir is using own money for development, which is why it can wait several years before the IPO, he said.

The businessman said that Sistema made a benchmark for Detsky Mir to decide when to sell a stake. Yevtushenkov did not disclose the amount of the stake which can be offered.

Sistema has a 75.82% interest in the store chain and the Russia-China Investm Fund owns 23.1%.

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