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Russia's Detsky Mir valued at up to $2 billion ahead of IPO: sources
January 18, 2017 / 1:47 PM / 8 months ago

Russia's Detsky Mir valued at up to $2 billion ahead of IPO: sources

An interior view shows a store of Russian children's goods retailer Detsky Mir in Moscow, Russia, January 16, 2017. REUTERS/Sergei Karpukhin

MOSCOW (Reuters) - Russian children’s goods retailer Detsky Mir has been valued at 50 billion roubles-118 billion rubles ($844 million-$2 billion) by two of the five banks arranging its initial public offering, two financial market sources said on Wednesday.

Sberbank CIB estimates the company is worth 98-118 billion rubles, while Credit Suisse’s (CSGN.S) valuation is 50-108 billion rubles, the sources said.

Two other deal bookrunners, Morgan Stanley (MS.N) and UBS (UBSG.S), did not provide valuation in their analytical reports, the sources said.

Detsky Mir, controlled by the Sistema (AFKS.MM) (SSAq.L) conglomerate, announced intention to list shares in Moscow on Monday. Goldman Sachs (GS.N) is also a bookrunner.

Reporting by Olga Popova; writing by Maria Kiselyova

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