Belarus’ Eurotorg Lines Up Landmark Overseas IPO
Belarus' largest grocery retailer Eurotorg is set to become the country's first company to list on an overseas stock market, as economic stability and a friendlier business environment allow non state-run enterprises to flourish.
Eurotorg, which has a 19 percent market share and is five times larger than its closest domestic competitor, will file documents to Britain's regulator needed to hold an initial public offering as early as this week.
The company, which last year became the first from Belarus to issue a Eurobond, expects to raise around $200 million in new money. A source familiar with the matter said the company was valued at up to $1.5 billion on a pre money basis, which does not take into consideration the capital the company will receive in the IPO.
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