Russian grocery retailer Magnit has remained coy on speculation that it may hold a share offering in the autumn to raise at least US$500m to finance investment .

The retailer recently unveiled an ambitious expansion plan, with plans to invest $1.8bn in opening 800 convenience stores, around 200 drug stores and 50 hypermarkets in 2011.

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

A spokesperson for the retailer told just-food that it could not comment on the speculation.

The retailer recently recorded a 39.2% increase in full-year sales, while fourth-quarter like-for-like sales were up 18.2%.

Shares in the retailer were down 0.25% at 13:34 BST to US$30.39 a share.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now