The Krasnoye and Beloye retail chain intends to hold an IPO, Kommersant reports.
Thus, according to the newspaper, the size of the deal may be 15-20% with the possibility of additional placement, and taking into account the SPO in free float may appear about 25-30% of the network's shares.
Mercury Retail Group which is the owner of "Red and white" has hired consulting and audit firm E&Y to carry out evaluation of the investment object (due diligence) before the possible IPO. Preparations for the deal could start after the sale of another asset of the group - the network "Dixie" retailer "Magnit", the media reports.
Indirect factors that point to the upcoming IPO, according to the newspaper, is the transition to the "Red and white" in a similar position of the head of corporate finance and investor relations of X5 Retail Group Andrew Vasin.
The Red and Beloe chain of stores specializing in alcohol sales was founded in 2006 by Chelyabinsk businessman Sergei Studennikov. Two years ago it was announced that the chain "Red and White", "Bristol" and "Dixy" would merge. In September 2019 the deal was closed: co-owners of Dixy and Bristol received 51% in the new company, and Studennikov - 49%.
As a result, the merged company became the third-largest player in the domestic retail market in terms of revenue after X5 and Magnit.
Made in Russia // Made in Russia
Author: Ksenia Gustova