November 22, 2019 / 6:53 AM / 14 days ago

Russia's Detsky Mir shareholders raise almost $250 million in SPO

MOSCOW, Nov 22 (Reuters) - Shareholders in Russian children’s retailer Detsky Mir sold 15.9 billion roubles ($249.5 million) worth of shares via a secondary public offering, at 91 roubles per share, main shareholder AFK Sistema said on Friday.

AFK Sistema said it will receive approximately 12.5 billion roubles in the deal after a total of 175 million shares were sold, bringing its stake in the company to 33.4%.

AFK Sistema said most buyers are investment funds from the United Kingdom, Europe and the United States.

The Russia-China Investment Fund’s (RCIF) stake in Detsky Mir will now be 9%, AFK Sistema said.

After completion of the deal, Detsky Mir’s free float will increase to 57.6%.

$1 = 63.7198 roubles Reporting by Nadezhda Tsydenova; Writing by Alexander Marrow; Editing by Christian Schmollinger

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