Russia’s biggest retailer for kids raises over $350m via IPO

By Andrei Skvarsky.

Detsky Mir, Russia’s number-one children’s goods retailer, has raised 21.1bn roubles ($355.6m) through a fully-subscribed initial public offering (IPO) of shares, including an over-allotment option.

Trading on Moscow Exchange is due to start on February 10. The company’s market capitalisation will be about 62.8bn roubles ($1.1bn) by that moment, Detsky Mir and London-headquartered business communications agency EM said in statements.

Russian conglomerate Sistema will retain a majority stake in Detsky Mir after the offering. None of the selling shareholders, which include Russia-China Investment Fund (RCIF), is fully exiting the company.

Credit Suisse, Goldman Sachs, Morgan Stanley, UBS Investment Bank, and Sberbank CIB, the investment arm of Russia’s biggest lender Sberbank, are acting as bookrunners.

This is the first Russian IPO of 2017.

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