Obuv Rossii aims to raise $136 million from IPO
11/10/2017
It has set a price range or between $2.41 and $2.92 per share. This would make the total value of the shares being offered between $110 million and $136 million.
The company plans to use the proceeds from the IPO for the expansion of its retail network and for the development of its distribution and supply chain. It would also serve to partially repay some of its existing debts.
Obuv Rossii was established in Novosibirsk in Siberia in 2003 as a small family business but is now Russia’s largest mid-price segment footwear retail group, with more than 500 stores and a presence in more than 140 cities. It achieved revenues of around $175 million in 2016.
The group’s five core brands are Westfalika, Rossita, Emilia Estra and Lisette.
Image courtesy of Obuv Rossii.
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