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Fix Price is expected to be listed on the London Stock Exchange in March




MOSCOW, 22 Feb – PRIME. The Fix Price chain of stores in March expects trading in its global depositary receipts (GDRs) on the London Stock Exchange as part of an initial public offering (IPO), the company said. Naftogaz Ukrainy announced its intention to go public. determined after the formation of the order book. It is expected that admission to the London Stock Exchange will take place in March 2021, “- said in a statement. Fix Price announced on February 15 that it plans to conduct an IPO on the London Stock Exchange and its intention to obtain a secondary listing on the Moscow Exchange. The latter announced on February 20 that GDRs of the chain of stores were admitted to trading. The sellers of GDRs for Fix Price shares as part of the IPO are the structures of the founders of the retailer Artem Khachatryan and Sergey Lomakin (Luncor Overseas SA and LF Group DMCC, respectively), as well as Samonico Holdings Ltd. (structure of the investment company Marathon Group) and GLQ International Holdings Ltd. (A wholly owned subsidiary of Goldman Sachs Group). The Hong Kong Stock Exchange has four times surpassed London in terms of trading volume. Luncor will also sell a certain amount of GDRs on behalf of some of the company’s top managers and other minority shareholders. The founders of the company will retain a “significant stake” in the retailer’s equity after the placement. According to the Fix Price materials for the IPO, Artem Khachatryan and Sergey Lomakin each own 41.7% of the company, Marathon Group owns 9.9%, Goldman Sachs – 4%, top managers of the chain – 2.3% of shares. The Fix Price retailer, founded in 2007, operates in the markets of Russia, Belarus, Kazakhstan, Latvia, Uzbekistan, Georgia and Kyrgyzstan. At the end of 2020, the company’s network consisted of 4,167 stores (including 425 franchises). Fix Price revenue in 2020 increased by 33% – to 190.059 billion rubles, IFRS net profit – by 33.4%, to 17.575 billion, EBITDA – by 36.4%, to 36.924 billion rubles.

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