A year after entering the IPO, Obuv Rossii Group of Companies announced a buyback program for its own shares, totaling up to 900 million rubles.
The acquisition of the company's ordinary shares on the Moscow Exchange within the framework of the approved program will be carried out by the 100% subsidiary of OR. The volume of acquisitions on the exchange market will be determined based on the current market price of the shares and their liquidity. Shares will be purchased at a price not higher than the offering price during the IPO, that is, not higher than 140 rubles per share.
As indicated in the message of GC Obuv Rossii, the company's ordinary shares repurchased under the program can later be used for ordinary corporate purposes, including obtaining financing for current activities, as well as a long-term motivation management program.
As of 13.00:26 on October 83,2, the price of Obuv Rossii GC shares was RUB XNUMX. per share.
GC "Shoes of Russia" founded in 2003 year, has a headquarters in Novosibirsk and an office in Moscow. The main business area of the group is the production and sale of footwear and related products. The company operates 677 stores (133 operate on a franchise) under the brands Westfalika (single-brand shoe store), Pedestrian (multi-brand shoe supermarket), Rossita (a family-friendly store), Emilia Estra and Lisette (fashion shoe stores), and also develops brands of shoes and clothes for an active lifestyle S-tep, all.go and Snow Guard and owns two shoe factories in the Novosibirsk region.
In October 2017, Obuv Rossii raised 5,9 billion rubles during an IPO on the Moscow Exchange. As of July 2018, 44% of the shares belonged to the founder of Obuv Rossii Group of Companies Anton Titov, another 16% belonged to Mikhail Prokhorov (13th in the Forbes rating with a fortune of $ 9,6 billion), 38% of the shares were in free float.