RUSSIA: Dixy float raises US$360m
Russia's third-largest grocer, Dixy Group, has raised US$360m in its initial public offering, with stock selling at the low end of its $14.40-$15.80 valuation range.
Investors snapped up around 25m shares at $14.40 a share on the Russian Trading System and Moscow's Micex Stock Exchange. Some 10m of these were newly-issued shares, bringing the total number of outstanding shares to about 60m.
Dixy has indicated that proceeds will be used to fund future expansion.
The IPO saw Dixy co-founder Oleg Leonov buy 3.55m shares. His stake in the company dropped from 55.9% to 52.5%. Citigroup Venture Capital reduced its stake from 41% to 4.2%.
- Why personalisation will take-off in US food
- US food next wave on display at Winter Fancy Food
- Comment: Meal kits in US - don't believe the hype
- General Mills sales woes continue - analysis
- Interview: The Soulfull Project's mission
- Post Holdings 'close to acquiring Weetabix'
- Kraft Heinz cuts jobs in US, Canada
- Recipe-kit firm HelloFresh launches into UK retail
- Mondelez set for union crosshairs next week
- Mondelez plays down impact of union action