Russian retailer Dixy has set a price range for the company’s imminent flotation on the country’s MICEX stock exchange.
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Dixy said today (10 May) that shares would be listed at US$16.50-22 when its lists later this year.
Dixy wants to use the cash raised from the listing to fund expansion, open new stores and pay off part of its debts.
Chairman Oleg Leonov said: “We consider the IPO to be an important step in the history of the company which will help us to strengthen our position in the Russian food retail market.”
The group, which operates in the Urals, as well as central and north-western Russia, owns just under 340 stores.
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