Obuv Rossii raises $100 million from second IPO - footwearbiz: Leading

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Obuv Rossii raises $100 million from second IPO

25/10/2017
Russian footwear retail group Obuv Rossii has announced it sold over $100 million in shares to investors during a recent initial public offering (IPO) on the Moscow Stock Exchange.

The share price was at the lower end of the company’s expectations. It had hoped to raise as much as $136 million.

Investors now control 39.4% of the company. This was its second IPO.

“We are thrilled at the positive response by investors from around the world and recognition of our future prospects,” said Obuv Rossii chief executive Anton Titov. “While investors appreciated the resilience of our business, with the company having achieved continued growth even throughout the economic turbulence of past years, they particularly saw Obuv Rossii as an effective player in the Russian consumer recovery we are witnessing now.”

Related stories:

Q1 growth for Russian footwear group 27/04/2018
Obuv Rossii aims to raise $136 million from IPO 11/10/2017
Obuv Rossii to float on Moscow Stock Exchange 27/09/2017
Russia’s footwear market ‘stabilises’ 08/09/2017

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