Russia’s Detsky Mir to offer 33.55% in IPO at 85–105 rbl/share
MOSCOW, Jan 26 (PRIME) -- Russian multi-industry holding Sistema and other shareholders will float up to 247.9 million shares of children goods retailer Detsky Mir, which is about 33.55% of its capital, during an initial public offering (IPO) with the price set at 85–105 rubles per share, Detsky Mir said in a statement on Thursday.
“The price range of the offer was set between 85 rubles and 105 rubles per share. It is expected that the selling shareholders will sell 247.9 million shares (including an option of additional placement), which in the framework of the price range corresponds to an offering amount of 21.1 billion rubles – 26 billion rubles and to a valuation of the company from 62.8 billion rubles to 77.6 billion rubles,” Detsky Mir said.
Besides Sistema, the selling shareholders are the Russia-China Investment Fund (RCIF), acting through investment companies Floette Holdings Limited and Exarzo Holdings Limited, and several individual shareholders, such as executives of Detsky Mir and Sistema.
(59.1489 rubles – U.S. $1)
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