The major Russian shoe manufacturer and retailer Novosibirsk, Obuv Rossii, announced its intention to conduct an initial public offering (IPO) on the Moscow Exchange. The group expects to raise $ 100 million, according to Vedomosti.
According to the company's forecasts, according to the IPO results, the share of Obu Rossii shares in free float will be about 40%. The planned volume of attraction is about $ 100 million. The funds received from the IPO will go “to increase its retail network, develop distribution channels and supplies, as well as other corporate goals,” the Obuv Rossii state company said in a statement. The organizers of the transaction are Citi, Renaissance Capital, BCS and Sberbank.
Earlier, Obuv Rossii registered an additional issue of 42,4 million shares, which is about 60% of the share capital at the moment.