Support The Moscow Times!

Yevroset Delays IPO

Cell phone retailer Yevroset postponed an initial public offering, citing "challenging and volatile" market conditions, according to a filing Thursday.

The company had been seeking to raise as much as $1.26 billion in the IPO in London. Yevroset said April 1 that it would price Global Depositary Receipts at $9.25 to $11.30 apiece to sell a 38.2 percent stake, putting its value at $2.7 billion to $3.3 billion.

"Yevroset will continue to pursue its strategy of expanding its retail operations," chief executive Alexander Malis said in the filing.

"We will keep investors informed about our development plans." The company won't revive its plans for an IPO for at least a year, RIA-Novosti quoted Malis as saying.


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.