OFFERING ULMART: Taking a page from the playbook of Chinese giant Alibaba — which raised $25 billion in a blockbuster IPO last year — Russia’s largest online retailer is planning to sell $1 billion worth of shares in a stock offering next year. The St. Petersburg-based company said in a statement that it is likely to be valued at $5 billion to $6 billion, according to Bloomberg News.
The company, which saw sales top $1 billion in 2013, is backed by August Meyer and Dmitry Kostygin. The pair were co-owners of hypermarket Lenta, which they sold to TPG Capital in 2011.
This story first appeared in the January 21, 2015 issue of WWD. Subscribe Today.