November 20, 2019 / 4:55 PM / 16 days ago

Russia's Detsky Mir receives enough offers to cover share sale: sources

MOSCOW (Reuters) - Russian toy retailer Detsky Mir has received enough offers to cover the 150 million shares that existing investors plan to sell in a secondary public offering, a financial market source and two sources close to the offering said.

Russia’s Sistema and the Russia-China Investment Fund (RCIF) said last week they were aiming to cut their holdings in the company to 36% from 52.1% and to 9.7% from 14% respectively.

Sistema and the Russian Direct Investment Fund, one of RCIF’s stakeholders, declined to comment.

Reporting by Olga Popova; Writing by Maria Tsvetkova; Editing by Jan Harvey

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