Page 90 - RusRPTDec20

and minority shareholders with stakes of less than 3% account for 40.62%. Infoline expects the express grocery delivery market in Russia to soar from RUB0.7bn to RUB30bn in 2020. Online sales already accounted for 0.8% of total sales of X5 in 3Q20, with the target of 2% in 2021. Total express delivery and online receipts are forecast to reach RUB60bn ($0.8bn) in 2021. Analysts surveyed by ​Kommersant r​ emind that Polish e-grocery player Allegro had a successful IPO this year, valued at the amount of its annual sales and having the shares jump by 60% after the placement. The valuation of Perekrestok Vprok ahead of a possible IPO could thus reach RUB200bn.
Russia's Ozon e-commerce competes IPO, raises $1bn and market cap over $8bn. ​Russian e-commerce major ​Ozon Holdings​ has set an IPO price at $30 per American Depository Receipt, and is planning to raise a total of $0.99bn from 33mn ADRs, the company said on November 24. Together with an option of 4.95mn ADRs available to underwriters, the IPO value could reach $1bn,withthetotalvaluationat$6.2bn.Asreportedby​bneIntelliNews,​ Ozon has registered its ​intention to IPO​, with valuations for the company ​previously ranging from $4bn-12bn​. Notably, in the end Ozon raised the placement price from the initial guidance of $22.5-27.5 on high investor demand. Trading was due to start on November 24 on NASDAQ, the Moscow Exchange and Saint Petersburg Exchange under the OZON handle. After just a few hours of trading, Ozon’s share price rose 40%, lifting the company’s capitalisation above $8bn. The company also confirmed its plans to raise another $135mn from a private placement from main shareholders AFK Sistema multi-industry investment conglomerate and Baring Vostok fund. The stakes held by Sistema and Baring Vostok funds in Ozon would be 45.2% and 45.1% if taking into account all options, convertible loans and other instruments being exercised. The remaining stakes in Ozon are held by the US-based VC firms Index Ventures and Princeville Global. The analysts previously saw the IPO news as positive and a key ​near-term catalyst for AFK Sistema.​ E-commerce is booming in Russia, with online sales growth twice as fast as traditional channels. And the four biggest companies – Ozon, Wildberries, Sber and Yandex – in the space are growing even faster at up to 80% a year, Ozon CEO Alexander Shulgin told ​bne IntelliNews i​ n an exclusive interview in September 2019​.
Russian fixed-price retailer ​Fix Price​ is preparing for an IPO in London or Moscow with a total valuation of up to $6bn, ​according to Bloomberg. Reportedly, the offering could take place in 1H21. The founder of the retailer, Sergey Lomakin, confirmed to Bloomberg that IPO was one of the strategic development options. He also said that 10% minority stake earlier this year was sold to Goldman Sachs.
MTS acquires another 1,480,374 shares through buyback program. ​On 6 November, MTS reported that it had acquired another 1,480,374 of its own shares from the open market, representing 0.07% of its share capital. This
90 ​RUSSIA Country Report​ December 2020 www.intellinews.com