Russian company Melon Fashion Group, which includes store chains Befree, Zarina and Love Republic, plans to hold an IPO on the Moscow Stock Exchange next year or in 2023, says "Kommersant".

At the end of last year, the group managed 809 stores in Russia, Belarus, Kazakhstan, Armenia and Ukraine. The company's revenue for 2020 increased by almost 10%, to more than 25 billion rubles.

The owners of Melon Fashion Group, according to the media, were making attempts to sell the share not on the public market, but they failed to find a buyer. At the offering investors may be offered up to 45% of shares, and the company itself may be valued at 29 billion to almost 35 billion rubles, the newspaper writes.

The group's IPO will be the first for the Russian fashion retailer.

Made in Russia // Made in Russia

Author: Ksenia Gustova