Obuv Rossii group of companies is discussing the possibility of an initial public offering (IPO) on the MICEX-RTS, two sources in the financial market told Reuters.
The Novosibirsk-based company has long been hatching plans to enter the capital markets and last summer placed a debut bond loan of 700 million rubles.
“They are preparing for an IPO, maybe even by the end of this year,” one source said. Sources did not specify what kind of probable volume of placement is involved. The company itself does not comment on this information.
While the situation on financial markets remains extremely difficult, however, experts admit that placements in the MICEX-RTS RII sector are still not so rigidly dependent on the global situation.
Obuv Rossii is a federal retail chain of shoe stores that includes 180 stores in 56 cities. The company is developing two networks and three brands: Westfalika, Pedestrian and Emilia Estra, Vedomosti writes.
As follows from the data on the group’s website, its revenue in the 1st quarter of 2012 amounted to 544,3 million rubles, net profit - 41,74 million rubles, in 2011 these figures amounted to 2,2 billion rubles. and 162,8 million rubles. respectively.