Russian Retailers Hammered on London Exchange as Metro Mulls Delaying IPO | The Moscow Times:
"German retailer Metro is monitoring market conditions, including the turmoil in Ukraine, as it proceeds with plans to list a stake in its Russian wholesale business.
Meanwhile, share in Russian hypermarket chain Lenta, which made its stock market debut in London on Friday, fell 8.9 percent as the Market opened on Monday.
Metro has made good progress in preparing for an initial public offering, although market conditions need to be favorable and it is assessing the situation in Ukraine, a spokesman for the company said Monday.
Shares in Metro fell 5.2 percent in early trade, making them the biggest decliners among European retail stocks, on concern that turmoil in Ukraine could scupper the listing plan.
The company was hoping to raise at least 1 billion euros ($1.38 billion) by selling a quarter of its Russia cash-and-carry unit in a London listing, organized by Goldman Sachs and Sberbank."
'via Blog this'
No comments:
Post a Comment