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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

Friday, Oct. 24


SPIBA’s ongoing “Breakfast with the Director” series continues today, featuring Tomas Hajek, Managing Director of the Northwest Division at Danone Russia. Hajek will be discussing collaborations between businesses from different cultures. The meeting is at 9 a.m. at the Domina Prestige St. Petersburg hotel and all who wish to attend must confirm their participation by Oct. 23.


Get your gong on at “Sounds of the Universe,” a concert at the city planetarium this evening incorporating six different gongs to create relaxing songs that will transport you upwards into the stratosphere. Tickets are 700 rubles ($17).



Saturday, Oct. 25


AVA Expo, the eighth edition of the event revolving around all things pop culture, returns to Lenexpo this weekend. Geeks, nerds, dweebs and dorks will have their chance to talk science fiction and explore a variety of international pop culture. Tickets for the event can be purchased on their website at avaexpo.ru.



Sunday, Oct. 26


Zenit St. Petersburg returns home for the first time in nearly a month as they host Mordovia Saransk in a Russian Premier League game. Currently at the top of the league thanks to their undefeated start to the season, the northern club hopes to extend the gap between them and second-place CSKA Moscow and win the title for the first time in three years. Tickets are available at the stadium box office or on the club’s website.



Monday, Oct. 27


Today marks the end of the art exhibit “Neophobia” at the Erarta Museum. Artists Alexey Semichov and Andrei Kuzmin took a neo-modernist approach to represent the array of fears that are ever-present throughout our lives. Tickets are 200 rubles ($4.90).



Tuesday, Oct. 28


The Domina Prestige St. Petersburg hotel plays host to SPIBA’s Marketing and Communications Committee’s round table discussion on “Government Relations Practices in Russia” this morning. The discussion starts at 9:30 a.m. and participation must be confirmed by Oct. 24.



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