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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 OKey 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 countrys growing middle class and booming consumer sector.

Other companies reportedly considering going public include Siberian shoemaker Obuv Rossii, childrens 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 Russias state-owned banking giant VTB.





 


ALL ABOUT TOWN

Wednesday, July 23


SPIBAs Legislation & Lobbying Committee invites everyone interested in the practical aspects of courts and procedural law to todays Legal Debating Club at 9:30 a.m. at the Mertens House, 21 Nevsky Prospekt, office 506. Visit spiba.ru for more details.


Take advantage of the sunny summer days and participate in Beach Games 2014, which runs through July 27 in Sestroretsks Dubki Park.



Thursday, July 24


Liliana Modiliani, a well-known Russian stylist, will talk about choosing clothes that fit during her lecture at 7 p.m. at the Pryamoy Efir art club, 13 Viborgskoe Shosse.



Friday, July 25


Discuss Russias economic and political prospects for 2014 during a Business Breakfast organized by SPIBA at 9.30 a.m. in the Bank Saint-Petersburg office at 64


Malookhtinsky Prospekt.


Start your weekend with adorable miniature pigs at the Squealing Pig festival at 7 p.m. this evening in the Karl & Friedrich restaurant, 15 Iozhnaya doroga, on Krestovsky Island.



Saturday, July 26


Hundreds of brand-new and retro cars, drag and drift shows, test drives and karting are planned for the Avtobum-2014 festival, which will take place in front of the RIO shopping center at 2 Fuchika Ulitsa.


Participants in todays SaniDay Summer competition will impress visitors with their hand-made, unusual and hilarious boats, which will race at the Igora Resort near the 54th kilometer on Priozerskoe Shosse.


Metro Family Day will include both serious lectures for adults and master-classes for children, making the event interesting for the whole family. To participate, come to Kirov Park on Yelagin Island.


Photography will be the focus of todays Photosubbota, which features lectures by famous photographers, meetings with photo schools and studio representatives, and participation in a photography competition. The event starts at noon at Petrokongress, 5 Lodeynopolskaya Ulitsa.


If you like cycling, make sure to visit the Za Velogorod Festival with its retro bike exhibition, market and live music. The second round of the Leningrad Criterium race will also take place during the event at Petrovsky Arsenal in Sestroretsk.



Sunday, July 27


Navy Day will be celebrated with a weapon and military transportation exhibition, self-defense master classes and concerts. The event starts at 1 p.m. in the 300th Anniversary Park of St. Petersburg.



Monday, July 28


Dont miss a chance to see the latest achievements in robotics during the RoboDom interactive show, exhibiting more than 150 robots. The show will be at BUM center, 22/2 Gzhatskaya Ulitsa, until Aug. 3. The entrance ticket costs 350 rubles ($10).



Tuesday, July 29


A video of a Queen concert from 1986 will be shown today at 8 p.m. in Yaschik, 50/13 Ligovsky Prospekt.



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