The Russian retail group Pyaterochka is seeking a local stock market listing, the company’s chief financial officer Vitaly Podolsky said in an interview with Reuters.
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The company said it believes it has a strong chance of attracting attention from institutional investors specialising in emerging market and Russian stocks.
Pyaterochka, which has a major investment programme planned for the coming few years with budgeted capital expenditure of some US$700m, also said it is planning to speed up the buying out of its regional franchises.
Podolsky also revealed that the company does not plan to make any dividend payouts for the foreseeable future, with all earnings being reinvested in the business.
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