X5 Retail Group may float online business on foreign bourses

MOSCOW, Jan 22 (PRIME) -- Russia’s X5 Retail Group may hold an initial public offering (IPO) of its online business Perekrestok Vprok not only on the Moscow Exchange, but on foreign bourses as well, CFO Svetlana Demyashkevich said late on Thursday in an online conference.

The company previously decided to change the online store’s brand from Perekrestok to Perekrestok Vprok because it is a separate business with its own management, IT, and marketing teams, she said.

“We also understand that there is a possibility and sense in this business becoming separatefrom the point of view of public placement. We will definitely do it on the Moscow Exchange, but not only on it. There is a goal of entering different markets and covering the maximum amount of investors possible,” she said.

“We want to be present at all stages of client’s journey from the point of choice. This is why we want to strengthen our presence in the media chain, in the media sector. We have a team that is starting to work on that, I think that it will be a very interesting development for us. Besides that, we want to develop additional services that take place after sales, and suggest payment services, for instance.”

In November 2020, the company said that it was studying possibilities for floating its online food delivery businesses over the next two to three years.

End