Magnit PAO (MGNT.MM)
21 Nov 2017
* Magnit Chief Executive Officer Sergey Galitskiy to grant a revolving credit line to Magnit's subsidiary Tander in the amount of 44 billion roubles ($750.3 million);
Nov 15 The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Wednesday:
* Magnit to use proceeds from new share sale to fund expansion
MOSCOW, Nov 15 Russian food retailer Magnit has launched a two-step equity fundraising deal aiming to raise around $700 million to fund its expansion.
* Shareholder Lavreno Limited sold 7,100,000 shares at 6,185 roubles ($102.56) apiece through an accelerated bookbuild;
* MAGNIT: BOOKRUNNER SAYS BOOKS ARE COVERED; ORDERS NOT AT RUB 6185 RISK MISSING
* Shareholder Lavreno Limited (the "selling shareholder") has initiated the process for the sale of approximately $700 million worth of ordinary shares in the company owned by Lavreno in the form of local rouble-denominated shares;
MOSCOW, Oct 20 Russia's second-biggest food retailer Magnit plans to invest 40 billion roubles ($694.93 million) in developing a food production plant in the medium term, Khachatur Pombuhchan, its chief financial officer, said in a conference call on Friday. ($1 = 57.5600 roubles) (Reporting by Olga Sichkar; Writing by Dmitry Solovyov; Editing by Andrew Osborn)
MOSCOW, Oct 20 Russia's second-biggest food retailer Magnit said on Friday it had lowered its forecast for revenue growth in 2017 to 8-10 percent from an earlier estimate of 9-11 percent.
MOSCOW, Oct 20 Russia's second-biggest food retailer Magnit said on Friday its third-quarter net profit more than halved year-on-year, sending its shares down more than 5 percent.