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Sistema, Russia-China fund raise $281 mln from sale of toy retailer

MOSCOW, Sept 2 (Reuters) - Russian conglomerate Sistema said on Wednesday that it and the Russia-China Investment Fund (RCIF) had raised 20.7 billion roubles ($281 million) from the sale of 25% of shares in Russia’s biggest toy retailer Detsky Mir.

The sale of 184.75 million shares via a so-called accelerated bookbuilding process was priced at 112 roubles per share, with a 1% discount on the price of Detsky Mir’s shares at market close on Tuesday, Sistema said in a statement.

The offering increased Detsky Mir’s free float to 100%. (Reporting by Nadezhda Tsydenova; writing by Polina Devitt and Maria Kiselyova; editing by Tom Balmforth)

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