Saturday, February 28, 2015
 
Follow sptimesonline on Facebook Follow sptimesonline on Twitter Follow sptimesonline on RSS Download APP
MOST READ



PARTNER NEWS



BLOGS



OPINION



WHERE TO GO?

Ineffable Light

Nikolai Roerich Apartment Museum

Balls Glittering and Raucous

History of St. Petersburg Museum

 

Перевести на русский Перевести на русский

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

Friday, Jan. 30 through Wednesday, Feb. 4



A retrospective of the films of Roman Polanski starts today at Loft-Project Etagi, 74 Ligovsky Prospekt, with a screening of ‘Repulsion’ at 7 p.m. and ‘Rosemary’s Baby’ at 9:15 p.m. The series runs through Feb. 4 and will include Polanski's eminently creepy ‘The Tenant,’ the cult comedy ‘The Fearless Vampire Killers’ and ‘Cul-de-sac’ among others. Tickets are 150-200 rubles and the complete schedule is available at www.vk.com/artpokaz/



Times Talk