Detsky Mir Group holds an initial public offer of shares (IPO) on the Moscow stock exchange
The organizers of the IPO Detsky Mir Group reduced the price range per share
On the eve of the closing of the bid book for the purchase of Detsky Mir shares, the IPO organizers reduced the upper limit of the price range to 90 rubles. Initially, it was set at 105 rubles, Kommersant reports.
According to analysts, such a decline may be due to low interest on the part of investors in the purchase of shares in a group of companies. According to another source involved in the placement, the book of applications for the purchase of Detsky Mir shares has been re-signed by 20-50%. Closing of the order book is expected today at 19: 00 Moscow time.
During the IPO, investors will be offered 247,9 million shares of Detsky Mir Group, which is 33,55% of the company. From the updated price range it follows that the entire company is valued at 62,78-66,5 billion rubles, which is 49-57,6% more than a year ago. In January 2016, the Russian-Chinese Investment Fund (RKIF, created by the Russian Direct Investment Fund and China Investment Corporation) acquired 23,1% of the retailer’s shares for 9,75 billion rubles. That is, the entire Detsky Mir business was then worth 42,2 billion rubles.
As we wrote earlier in mid-January, Detsky Mir Group announced its intention to conduct an initial public offer of shares (IPO) on the Moscow stock exchange. The selling shareholders are Sistema PJSC, the Russian-Chinese Investment Fund (RKIF) through investment companies Floette Holdings Limited and Exarzo Holdings Limited, as well as some representatives of Detsky Mir and Sistema management. AFK Sistema intends to maintain strategic control over the company's activities in the medium term, remaining the owner of its controlling stake.
On the eve of the closing day of the order book for the purchase of Detsky Mir shares, the organizers of the IPO lowered the upper limit of the price range to 90 rubles. It was originally set at ...
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