The fortune of Artem Khachatryan and Sergey Lomakin, the founders of the Russian chain of fixed-price stores, is estimated at $3.4 billion after the chain's IPO (initial public offering). In total, they sold the retailer securities for more than $ 1 billion, reports Forbes.

Before the placement the businessmen owned 354 million shares (41.66%) of the company, now - 301 million shares (35.43%). During the IPO, they each sold 52.9 million shares, the price of this package is $516 million.

During the roadshow, demand for the shares was higher than supply, so the company raised the number by 26.8 million depositary receipts. Such an option can be exercised at the request of the selling shareholders. In case of such a development, the stakes of Lomakin and Khachatryan will decrease to 288 million shares each (33.93%).

On 10 March Fix Price will start selling on the London and Moscow stock exchanges. The company in the IPO will raise $ 2 billion, taking into account the option for an additional placement.

At the end of January, the company's press office said that Fix Price has become a leader in the ranking of retail franchises in Russia.

Made in Russia // Made in Russia

Author: Ksenia Gustova