Source: Russian retailer Azbuka Vkusa preparing for IPO

MOSCOW, Nov 1 (PRIME) -- Russian food retailer Azbuka Vkusa is preparing for an initial public offering (IPO), a financial markets source told PRIME on Wednesday.

The source said that Bank of America Merrill Lynch and Credit Suisse were chosen as the organizers. The placement will probably take place on the Moscow Exchange.

The grocery chain declined to comment.

Co-founders Maxim Koshcheyenko and Oleg Lytkin own 46.2% in the retailer. Millhouse of Roman Abramovich and Invest AG of Alexander Abramov hold 36.9%, Cyprus-based V.M.H.Y. Holdings owns 11.9% and managers 5%.

Azbuka Vkusa’s revenue amounted to 49.8 billion rubles in the 2016 financial year that lasts until April 2017.

(58.1179 rubles – U.S. $1)

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