Blog: Dean BestO'Key seeks to join X5 Retail on London stock exchange

Dean Best | 5 October 2010

Another Russian food retailer is looking to list in London.

O'Key, Russia's third biggest retailer by sales, is planning to join X5 Retail Group, the country's largest, with a spot on the London stock exchange.

The planned IPO, which O'Key has scheduled to happen by the end of the year, signals that Russian retailers are seeing consumer demand recover after the country's economy was hit hard by the global downturn.

O'Key is looking to raise funds to expand its hypermarket and supermarket chains in Russia, which number a total of 52 stores. The company's sales in the first half of 2010 stood at over RUB38bn (US$1.26bn).

X5 is Russia's largest retailer in terms of sales and its first-half turnover reached RUB155bn. It is has been busy snapping up retail chains to give it a stronger position as trading conditions improve but, nevertheless, the market remains fragmented. There is growth there for the likes of O'Key to aim at.


BLOG

Do you get just-food's newsletters? You need to do something

If you receive just-food's newsletters, we have a message....

BLOG

UK consumers to cut back on fruit and veg - and point to Brexit, study says

Whatever your view on Brexit, a piece of research issued today (18 July) in the UK on fruit and veg consumption will likely unite more of you than last year's divisive vote....

BLOG

Cyber attack - another wake-up call for business

A month after an international cyber attack hit entities including the UK's National Health Service and Spanish telecoms giant Telefonica, another has caused havoc around the world, affecting business...

BLOG

A bad fortnight for self-regulation

Recent events in Canada, Brussels and the UK suggest the task of defending self-regulation as the best way to prevent the commercial activities by food companies from exacerbating childhood obesity is...

just-food homepage



Forgot your password?