June 16, 2020 / 4:39 PM / 22 days ago

Sistema, Russia-China fund to sell Detsky Mir shares

MOSCOW, June 16 (Reuters) - Russian conglomerate Sistema and the Russia-China Investment Fund said on Tuesday they would sell 118 million shares in Detsky Mir through an undocumented accelerated bookbuild.

The offering of around 16% in Russia’s largest children’s goods retailer may raise some $160 million, a Detsky Mir bookrunner said.

Sistema said that after the sale it would retain around 20.4% of Detsky Mir, while the investment fund will own around 4.6%.

Credit Suisse Securities (Europe) Limited, Goldman Sachs International, Sberbank CIB and VTB Capital plc are acting as joint global coordinators and joint bookrunners. Alfa Bank is acting as joint bookrunner.

Prior to the completion of the offering, Sistema holds a 33.38% ownership interest and RCIF a 7.56% ownership interest in the company. (Reporting by Nadezhda Tsydenova and Vladimir Soldatkin; Editing by Jan Harvey)

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