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Tsentrobuv wants to hold an IPO in 2011 on the London Stock Exchange
17.02.2011 2202

Tsentrobuv wants to hold an IPO in 2011 on the London Stock Exchange

Russia's largest footwear retailer Tsentrobuv wants to IPO in 2011 on the London Stock Exchange, Reuters reports

In addition to the London site, the company is also considering the Hong Kong stock exchange, where it can conduct a second listing in 2012 year.

The company chose Morgan Stanley and Renaissance Capital investment banks as the organizers of the placement.

Co-owner of Centrobuv, Sergei Lomakin, said the company was “exploring various options for attracting financing,” declining to comment on details.

Placement parameters not yet defined. Traditionally, companies planning an IPO in London have focused on raising at least $ 400 million.

According to a Reuters interlocutor familiar with the situation in the company, the retailer’s revenue for the 2010 year significantly exceeded $ 500 million.

The company owns two retail chains - casual shoes "Centrobuv" and fashionable shoes and accessories Centro. The retailer brings together about 550 stores in the European part of Russia, the Urals and Siberia. Tsentrobuv operates in a discounter niche, offering relatively cheap shoes at a price of 300 rubles ($ 10) per pair. The owners of the company are businessmen Anatoly Gurevich, Dmitry Svetlov, Sergey Lomakin and Artem Khachatryan.

Russia's largest footwear retailer Tsentrobuv wants to IPO in 2011 on the London Stock Exchange, Reuters reports
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