The share of the main owner of Obuv Rossii GK Anton Titov in the group’s parent structure, PJSC OR, decreased from 68,4% to 42,7% after the last IPO on the Moscow Exchange, Interfax writes with reference to the PJSC report.
Thus, Anton Titov lost direct control over the PAO. At the same time, the share of Karyo Holdings (British Virgin Islands, is managed by the Mikhail Prokhorov fund, which became one of the shareholders of PJSC OR in February 2017 after the repurchase of part of the shares from Anton Titov), decreased from 25% to 15,6%.
PJSC OR (the parent company of the Obuv Rossii holding), on October 20, held an IPO on the Moscow Exchange. The placement price amounted to 140 rubles per paper. As a result of the placement, the retailer raised about 5,9 billion rubles, and if the option for additional placement is fully implemented, the transaction volume will be 6,2 billion rubles (the main owner of the group A. Titov will receive the funds from the option).
As a result of the proposal, the share of the company's free float amounted to 37,5% of the increased authorized capital without exercising the option for additional floatation and may grow to 39,4% if it is exercised.
The Obuv Rossii funds raised during the IPO are going to be invested in expanding the retail network, developing distribution channels, and partially repaying existing debt.