Russia's Lenta may launch London IPO next week - sources
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.
- Exclusive: Angry with Washington, 1 in 4 Americans open to secession
- Secret Service investigates after man jumps White House fence, reaches doors
- French jets strike in Iraq, expanding U.S.-led campaign against Islamic State |
- Scots spurn independence in historic vote, devolution battle begins |
- Thousands of Syrian Kurds flee to Turkey as Islamic State advances |