23 October 2003 01:45
Kopeika retailer plans IPO in 2005-2006
MOSCOW. Oct 23 (Interfax) - Kopeika, a Russian supermarket chain, plans to make an initial public offering in
2005-2006, the company's president, Alexander Samonov, said at a press conference in Moscow on Thursday.
Kopeika would like to float 20% to 30% of its shares. The company
does not need to raise large sums, but the IPO is necessary to raise
The Nikoil finance corporation owns 50% of the company, which will be restructured into an open joint stock company
in the second-third quarter of 2004. It will then start to get ready for the IPO.
asset liquidity.
A five-year development plan in which the chain is to achieve sales of at least $1.5 billion in this period is being
drafted, Samonov said.
Sales are forecast to reach $270 million in 2003. The chain will increase its number to 44 stores. [RU ASIA EUROPE
EEU EMRG STX CORA RET] me <>
[CEIW] |
RUSSIA IN FACTS
