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Financials

Russia's Mercury Retail Group aims to raise over $1 bln in Moscow IPO by year-end - sources

MOSCOW, Sept 30 (Reuters) - Russia’s Mercury Retail Group, an umbrella group for alcohol beverages chains Krasnoe & Beloe and Bristol, is aiming to raise over $1 billion in an initial public offering (IPO) in Moscow by year-end, three financial market sources said on Thursday.

If the listing goes ahead Mercury Retail Group would join an array of other Russian names queuing for share offerings this year as the domestic market rebounds from the impact of Western sanctions.

Russian companies have raised nearly $3 billion in IPOs so far this year, after only two major listings raised around $1.8 billion in 2020. The rouble-based MOEX Russian index reached an all-time peak of 4,112.31 on Tuesday.

Mercury has picked up Bank of America, J.P. Morgan, Credit Suisse, Sberbank CIB, VTB Capital, Gazprombank and Renaissance Capital to arrange the deal, two sources said.

Mercury Retail Group, Sberbank CIB, VTB Capital, Credit Suisse and Renaissance Capital declined comments. Gazprombank, Bank of America and J.P. Morgan did not reply to Reuters requests for comments.

Russian IT firm Softline became the latest to announce IPO plans on Thursday, aiming to raise around $400 million from London and Moscow listings.

The Moscow Exchange expects to hold 10 share listings by the end of the year, both IPOs and secondary offerings. UBS bank has predicted Russian IPOs could raise at least $10 billion in 2021. (Reporting by Olga Popova Additional reporting by Andrey Ostroukh Writing by Katya Golubkova; Editing by Elaine Hardcastle)

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