Russia's Lenta may launch London IPO next week - sources

MOSCOW Wed Jan 29, 2014 6:02am EST

MOSCOW Jan 29th (Reuters) - Russian hypermarket chain Lenta, part-owned by U.S. private equity firm TPG,, may proceed with its London initial public offering as early as next week, three sources familiar with the matter said.

The company will be seeking to tap demand from investors for consumer-focused stocks buoyed by a rising middle class, although there are concerns about the impact Russia's faltering economy will have on spending.

Sources familiar with the matter previously said that Lenta was talking to banks about a possible listing which could raise at least $1 billion and value the business at over $5 billion.

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