Tobacco distributor Megapolis is considering a London initial public offering this fall that could raise up to $1.5 billion.
Megapolis has been set a preliminary value of $8 billion, and the company might offer 25 to 30 percent of shares, including some owned by main shareholder Igor Kesayev, sources said Wednesday. Megapolis is the exclusive distributor for Japan Tobacco, Philip Morris and Imperial Tobacco in Russia, and is estimated to control just over 70 percent of the wholesale cigarette market.
Credit Suisse, JPMorgan, Deutsche Bank, Renaissance Capital and Troika Dialog together with Sberbank are the IPO organizers. Megapolis also distributes Energizer batteries.
(Reuters)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
