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Russia's Lenta Hypermarket Plans IPO

Published: February 4, 2014 (Issue # 1795)



  • According to reports, Lenta is planning to raise up to $1 billion in an IPO that will value the company at about $5 billion.
    Photo:

A Russian hypermarket chain announced Monday that it is planning to go ahead with an initial public offering that will reportedly value the company at about $5 billion.

Retail firm Lenta said in a statement that it is seeking to list in both London and Moscow.

Lenta is planning to raise up to $1 billion in an IPO that will value the company at about $5 billion, according to media reports. A listing of that size would make it the biggest Russian retail firm to go public since fellow St. Petersburg-based hypermarket chain O’Key sold $419.5 million of shares in London in 2010.

Related: Ilya Shtrom: Building Brand Loyalty

Despite slowing economic growth in Russia and a weakening ruble, Lenta is one of several Russian retail firms currently looking at an IPO on the back of the country’s growing middle class and booming consumer sector.

Other companies reportedly considering going public include Siberian shoemaker Obuv Rossii, children’s store Detsky Mir and the Russian business of German-owned retailer Metro.

Lenta was founded in 1993 and was for several years mired in a bitter shareholder conflict that was only resolved in 2011 with the buyout of minority shareholder, US-born lawyer August Meyer.

The hypermarket chain is 49.8 percent owned by US investment fund TPG, 21.5 percent by the European Bank of Reconstruction and Development and 11.7 percent by the investment arm of Russia’s state-owned banking giant VTB.





 


ALL ABOUT TOWN

Tuesday, Jan. 27


Observe the 71st anniversary of the end of the Siege of Leningrad on Palace Square with a free concert at 7 p.m. Listen to WWII-era songs and the poetry of Olga Bergholz while you peruse outdoor exhibitions dedicated to life during wartime. The event is capped off by a fireworks display at 9 p.m.



Stop by the Lexica School of Foreign Languages at 73 Ligovsky Prospekt from now until Friday for a free English lesson. The classes start at 7 p.m. and cover all levels, from Beginner to Advanced. Registration by telephone on 7641692 and a desire to improve your skills are the only prerequisites.



Wednesday, Jan. 28



Feel like becoming a publishing mogul? Stop by the Freedom anti-cafe at 7 Ulitsa Kazanskaya today at 8 p.m. where Simferopol, Crimea-based founder and chief editor of the Holst online magazine will talk about creating an internet magaine, including what stories to cover, how find an audience and build a team, where to find inspiration and how to stand out from the crowd. Admission is the normal price of the anti-café — 2 rubles per minute, which includes tea and snacks.



Learn everything you always wanted to know about wine, and perhaps a bit more, at the Le Nez du Vin seminar for wine lovers. Held at the WineJet Sommelier School, 100 Bolshoy Prospekt Petrograd Side, at 7:30 p.m., the event will cover wine production, the basics of wine tasting, the concept of terroir and the various countries where wine is produced. Tickets are 750 rubles and include a wine tasting. Register by calling +7 921 744 6264.



Thursday, Jan. 29



Attend a master class on how to deal with complicated business negotiations today at the International Banking Institute, 6 Malaya Sadovaya Ulitsa. Running from 3 to 6 p.m., Vadim Sokolov, an assistant professor at the St. Petersburg State University of Economics, will introduce aspects of managing the negotiation process and increasing its effectiveness. Attendance is free with pre-registration by telephone on 909 3056 or online at www.ibispb.ru



Celebrate what would be writer Anton Chekov's 155th birthday at the Bokvoed bookshop at 46 Nevsky Prospekt. Starting at 5 p.m., the legendary author will be feted with readings of his stories and short performances based on his plays by various St. Petersburg actors. Chekov's book will also be offered at a 15% discount during the event.





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