Russian discounter Fix Price plans London IPO

Fix Price Sergei Lomakin Artem Khachatryan
The retailer offers around 1800 products, including household goods, cosmetics and food, which it sells at fixed prices
// Fix Price considers London IPO, which could value it at £4.3 billion
// The IPO would aim to raise at least £719 million
// Fix Price is planning to file paperwork with the stock exchange on Monday, with the aim of listing in March

Russian discount retailer Fix Price is planning a London stock market listing, which could value the company at more than $6 billion (£4.3 billion).

The IPO would aim to raise at least $1 billion (£719 million), and would be the largest by a Russian company in London since 2017.

Fix Price is planning to file paperwork with the stock exchange on Monday, with the aim of listing in March.


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The retailer offers around 1800 products, including household goods, cosmetics and food, which it sells at fixed prices all under Rbs250 ($3.40), with about 80 per cent under Rbs100 ($1.03).

The company operates more than 4200 stores across Russia. Last year, revenues increased by 33 per cent to Rbs190.1 billion ($2.6 billion), with net profit of Rbs17.6 billion.

Like-for-like sales have risen at double-digit rates every quarter for 16 consecutive quarters.

Fix Price investors including founders Sergei Lomakin and Artem Khachatryan, as well as minority investors Goldman Sachs and Marathon Group, will sell shares in the IPO.

Lomakin and Khachatryan, who set up Fix Price in 2007, plan to retain control of the company.

BofA Securities, JPMorgan, Citigroup, Morgan Stanley, and VTB Capital will act as joint co-ordinators and joint bookrunners on the deal.

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