MOSCOW Feb 26 Russian children's goods retailer
Detsky Mir, owned by oil-to-telecoms conglomerate Sistema
, has applied to local regulators for permission to
list stock outside Russia, according to a regulatory statement
by the company.
Detsky Mir is aiming to launch an initial public offering
(IPO) in London in mid-March, two banking sources previously
said, and hopes to raise between $300 million and $400 million.
It is among a number of retail companies looking to tap into
demand from foreign investors for stakes in consumer-oriented
businesses in Russia and follows the flotation of telecoms firm
Megafon in 2012 and Russian consumer credit
firm TCS last year.
Other consumer-focused IPOs are expected this year such as
hypermarket chain Lenta, part-owned by U.S. private equity firm
TPG, corporate and individual loans bank Credit Bank of Moscow
and German retailer Metro AG's Russian cash-and-carry
JPMorgan, Credit Suisse, Citi and
Renaissance Capital will be working on Detsky Mir's offering,
the sources said.
Organisers for Lenta's planned London stock market listing
have specified a price range of $10-$11 per global depositary
receipt (GDR) for its IPO, a source close to the matter said on