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Retail

Fix Price Value Put At Up To $11.6bn By Arranger VTB, Sources Say

Fix Price's equity value was put at between 752 billion and 854 billion roubles ($10.2-11.6 billion) by VTB Capital, one of the banks arranging the Russian retailer's initial public offering (IPO), two financial market sources said.

Fix Price, which sells low-priced goods in walk-in shops and on line, plans to offer existing shares during its IPO.

VTB Capital did not immediately reply to a Reuters request for a comment.

The company aims to raise around $1 billion and the pricing is expected by 6 March, sources have said.

BofA Securities, Citigroup, JPMorgan, Morgan Stanley and VTB Capital are arranging the deal, Fix Price has said.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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