November 21, 2019 / 7:01 PM / 20 days ago

Russia's Detsky Mir offers 175 mln shares in SPO - source

MOSCOW, Nov 21 (Reuters) - Russian children’s retailer Detsky Mir has increased the amount of shares on offer in its secondary public offering (SPO) to 175 million and is set to raise around $250 million, a source close to the placement said on Thursday.

Books for the SPO of Detsky Mir are oversubscribed twofold as investors are guided towards a share price of no less than 91 roubles ($1.43) apiece, the source said.

Sistema, the main shareholder of Detsky Mir, declined to comment.

Russia’s RDIF sovereign wealth fund, also a shareholder in Detsky Mir, did not immediately reply to a request for comment. ($1 = 63.7040 roubles) (Reporting by Olga Popova and Katya Golubkova Writing by Andrey Ostroukh Editing by Jonathan Oatis)

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