Anastasia Demidova
the Action “Children’s world” will be offered to investors in the IPO at 85-105 RUB apiece
the Store “Children’s world”
Largest retailer of goods for children — “Children’s world” — decided on the price of its shares on the IPO. On the basis of the proposal, the capitalization of the company would amount from 62.8 billion to 77.6 billion. Analysts find the price adequate
the Company Detsky Mir announces price range for initial public offering (IPO) of its shares, to be held on the Moscow exchange.
“We are encouraged by the interest shown by the investors to the company after the announcement of the intention to conduct an initial public offer of shares. Today we are excited to take the next step in the implementation of our proposal and announce the price range,” — said General Director of “Children’s world” Vladimir Chirkov.
From the message follows that the range has been set between 85 and 105 RUB. per share.
In the IPO by existing shareholders, including company managers, as well as Sistema and the Russian-Chinese investment Fund (RCIF), plans to sell up to 247,9 million shares. Thus, the total value of the shares sold can vary from 21.1 billion to 26 billion rubles., and the rating of the entire company — from 62.8 billion to 77.6 billion rubles At the completion of the IPO, the shares of “Children’s world” in free circulation (free-float) will be (assuming the use of the option to dorazmeshchenie) about the accounting period by 33.55%. The “System” will retain a controlling stake in “Children’s world”.
In the list of affiliated persons as of 31 December 2016, provided that the main owner of “Children’s world” is AFK “System” Vladimir Yevtushenkov from 72.57% of the shares. Even 23,1% — at the Russian-Chinese investment Fund (RCIF), which belongs to the Russian direct investment Fund and China Investment Corporation. His share he bought in the end of 2015 for 9,75 billion rubles More of 1.79% — Vladimir Chirkova, other shares of the company (1,98%) is owned by the management.
“Children’s world” is a unique investment offer in the market,” — are reported words of Vladimir Chirkova. The company adopted a dividend policy that provides for at least 50% of net profit for the year payouts to shareholders, he explains.
valuation of the securities “Children’s world” quite adequate, it is below the maximum price, which was previously named bookrunners, says the analyst of FC “URALSIB” Konstantin Belov. According to him, the proposal should prove interesting for investors. “Children’s world” in fact, the only player in the segment of retail that shows this growth, says Belov.
“Detsky Mir” brings together a network of 525 stores of the same name, and operates 45 stores under the brand ELC. The company is the largest player in the market of children’s goods with a market share of 12.3%, according to INFOLine Retail Russia TOP in 2015. Thus, according to the forecasts of the “Children’s world”, at the end of 2016, its revenue could grow 30% to 79.2–79.8 per billion.
the plans to hold the IPO “Children’s world” management network announced in 2014. But then “the System” refused placement due to unfavorable market conditions. In mid-2016 Vladimir Yevtushenkov has informed “Interfax” that the placement will be conducted in March 2017. Officially, the company announced on 16 January 2017.
Russian retailers have not performed an IPO in three years. The last public offering made a “Ribbon” in February 2014.
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