VkusVill board of directors to consider listing of shares on Tuesday

MOSCOW, Jan 24 (PRIME) -- The board of directors of Russian grocery retailer VkusVill plans to consider listing of its ordinary shares at a meeting on Tuesday, as seen by PRIME in the materials of the company late on January 21.

In September 2021, The Wall Street Journal reported that VkusVill was considering an initial public offering in the U.S. with a double listing in Moscow in 2021 or early 2022. The IPO may value VkusVill at U.S. $3–5 billion.

Also in September 2021, the central bank registered a prospectus of shares of VkusVill’s eponymous operating subsidiary, and the subsidiary was transformed into a public company with a shareholder equity of 200 million ordinary shares with a face value of 1 ruble in October.

VkusVill markets itself as a retailer that sells healthy nutrition foods. In 2020, the company‘s net profit plummeted by 65.2% on the year to 951.731 million rubles, while its revenue rose by 38.2% to 114.298 billion rubles, as calculated under International Financial Reporting Standards (IFRS).

(76.6903 rubles – U.S. $1)

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