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Lenta's SPO
March 28, 2015 13:40


The “Lenta” network has made a secondary public offering (SPO) and attracted $ 225 million within its frame, according to the statement of the retailer posted on the website of the London Stock Exchange (LSE).

The company has placed more than 35 million new shares in the form of global depository receipts (GDR) at a price of 6.4 dollars each. The organizers of the placement were Credit Suisse, JP Morgan and “VTB Capital”.

GDR trade on the London Stock Exchange is to begin on March 27. According to TASS referring to the sources, the cornerstone investor is the Russian Direct Investment Fund (RDIF) which helped to attract funds from the Middle East, Asia and the West. According to the CEO of “Lenta” Jan Dunning, the funds received during the placement “give more flexibility” for opening new stores in 2015.

The plans of “Lenta” until the end of this year include opening at least 25 hypermarkets and 10-15 supermarkets, in this connection the planned volume of capital expenditures for the year has increased from 5 to 30 billion roubles. The retail network “Lenta” is a major Russian retailer, it unites more than 130 stores. The company’s net income in 2014 amounted to 9.1 billion roubles, revenues – to 194 billion roubles.

The main shareholders are TPG Capital owning 38.5 percent of all shares, the European Bank for Reconstruction and Development (16.6 percent) and VTB Capital Private Equity (6,3 percent), and about 29 percent of the shares are in free circulation.

Author: Anna Dorozhkina

Tags: Lenta     

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