June 20, 2011 / 12:15 PM / 8 years ago

Russia's Dixy Group plans international share placement

MOSCOW, June 20 (Reuters) - Russian food retailer Dixy Group DIXY.MM plans to place shares on international exchanges in the mid-term as part of its growth strategy, the company’s main shareholder Igor Kesayev told a news conference on Monday.

“This is in our future. It’s part of our plan to build a multi-billion dollar company, and for this shares should be traded on the main international exchanges,” he said.

The company is on an expansion drive and after the purchase of rival Victoria Group earlier this year it became Russia’s fifth-largest food retailer by sales. [ID:nLDE7120W6]

Kesayev also said the group aims for $5 billion in sales in 2012 and plans to invest $400 million in new stores.

Reporting by Maria Kiselyova; writing by Jessica Bachman; editing by John Bowkerjessica.bachman@reuters.com, +7 495 775 12 42, Reuters Messaging: jessica.bachman.reuters.com@reuters.net

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