Over 80 pct of buyers in Detsky Mir IPO foreign investors – Sberbank CIB

By Andrei Skvarsky.

More than 80 per cent of buyers of the stock sold in the current highly successful initial public offering (IPO) of shares in Russian children’s goods retailer Detsky Mir were foreign investors, according to Sberbank CIB, a co-book runner of the sale.

About 25 per cent of investors were American, around 35 per cent were British, 20 per cent were from elsewhere in Europe, and the remaining 20 per cent were split between the Middle East, Asia and Russia, Reuters cited Andrey Shemetov, head of global markets at Sberbank CIB, the investment arm of Russia’s biggest lender Sberbank, as saying.

The sale, this year’s first Russian IPO and biggest IPO in the Europe, Middle East and Africa (EMEA) region, appears to be one of the best indications that Russia has got over the crisis that hit it in 2014 and had mainly been triggered by Western sanctions over its annexation of Crimea and plummeting oil prices.

Detsky Mir, which is Russia’s largest retailer for children’s goods and has a seven-decade history, has raised more than $355m in the fully-subscribed IPO. Trade is due to have started on the Moscow Exchange on February 10.

Besides Sberbank CIB, the IPO book runners are Credit Suisse, Goldman Sachs, Morgan Stanley and UBS.

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