Russia's Lenta Hypermarket Plans IPO | Russia | RIA Novosti:
"MOSCOW, February 3 (RIA Novosti) – A Russian hypermarket chain announced Monday that it is planning to go ahead with an initial public offering that will reportedly value the company at about $5 billion.
Retail firm Lenta said in a statement that it is seeking to list in both London and Moscow.
Lenta is planning to raise up to $1 billion in an IPO that will value the company at about $5 billion, according to media reports. A listing of that size would make it the biggest Russian retail firm to go public since fellow St. Petersburg-based hypermarket chain O’Key sold $419.5 million of shares in London in 2010.
Despite slowing economic growth in Russia and a weakening ruble, Lenta is one of several Russian retail firms currently looking at an IPO on the back of the country’s growing middle class and booming consumer sector."
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