Source: Fix Price to collect IPO bids Mar 1–4, float Mar 10

MOSCOW, Feb 26 (PRIME) -- Russian discounter retailer Fix Price plans to accept investors' bids for the shares in the framework of an initial public offering (IPO) from March 1 until March 4 and to start trading on March 10, two financial sources told PRIME on Friday.

Fix Price plans to hold an IPO in London and get a secondary listing on the Moscow Exchange. The London Stock Exchange is to give admission for the global depositary receipts of Fix Price to trade in March. The Moscow Exchange admitted the stock for trade on February 20.

VTB Capital, one of the organizers, valued the company at 752–854 billion rubles, or U.S. $10.2–11.6 billion, a financial source said Thursday.

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.

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

(73.4747 rubles – U.S. $1)

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