Lenta commences trading on the Main Market
Wednesday 5th March 2014
London Stock Exchange today welcomes Lenta Ltd. – one of the largest retail chains in Russia – to its Main Market. Lenta’s IPO raised USD 952 million for the Company’s shareholders, through the offering of global depository receipts (GDRs), with the GDRs admitted to trading on the London Stock Exchange’s International Order Book (IOB).
The sale of 95,238,095 GDRs by Lenta’s shareholders, which include TPG Capital, the European Bank for Reconstruction and Development (EBRD) and VTB Capital Private Equity amounts to the sale of 22.1% of the Company’s existing share capital.
To mark the listing Jan Dunning, CEO of Lenta will join Alexander Justham CEO of the London Stock Exchange, to open trading in London today.
Jan Dunning, Chief Executive Officer of Lenta, said:
“We are delighted to have successfully completed our journey toward becoming a public company and we are proud that our depositary receipts are quoted on the main market of the London Stock Exchange.
“Our investment proposition has been well received and reflects the level of growth in Lenta’s distinctive, price-led hypermarket model, which leaves us well positioned to capture the significant growth potential in the fragmented and underpenetrated Russian food retail market.
“We welcome our new shareholders who acquired Lenta GDRs during the offering, and we look forward to embarking on a new stage of our journey with them as a listed company. We are fully committed to international best practice corporate governance and disclosure and we look forward to sharing our story with the equity capital markets.”