Russian retailer Fix Price says plans to hold IPO in London

MOSCOW, Feb 15 (PRIME) -- Russian retail chain Fix Price plans to hold an initial public offering (IPO) in London and get a secondary listing on the Moscow Exchange, the company said in a statement on Monday.

"Fix Price… declares its intent to publish today a registration document certifying that the company is considering holding an initial public placement of global depositary receipts (GDRs) certifying rights for common shares of the company," the statement read.

Shareholders Luncor Overseas S.A. of Artyom Chachatryan, LF Group DMCC of Sergei Lomakin, the founders of the chain, Samonico Holdings Ltd. (structure of Marathon Group) and GLQ International Holdings Ltd, 100% affiliate of Goldman Sachs Group, are the sellers.

Besides, Luncor plans to sell GDRs on behalf of top managers of the company and other minority shareholders. The founders plan to retain "a significant stake after the IPO", the statement read.

The IPO organizers are BofA Securities, Citigroup, J.P. Morgan, Morgan Stanley and VTB Capital.

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