Children's goods retailer Detsky Mir, owned by oil-to-telecoms conglomerate Sistema, is aiming to launch its planned London initial public offering in mid-March, two banking sources said Tuesday.
Detsky Mir is among a number of retail companies hoping to tap into demand from foreign investors for stakes in consumer-oriented businesses in Russia and follows the flotation of telecoms firm MegaFon in 2012 and consumer credit firm TCS last year.
Other consumer-focused IPOs are expected this year such as hypermarket chain Lenta, part-owned by U.S. private equity firm TPG, corporate and individual loans bank Credit Bank of Moscow and German retailer Metro AG's Russian cash-and-carry business.
Detsky Mir is aiming to raise between $300 million and $400 million, one source said. The offering will include new shares, the source added.
JPMorgan, Credit Suisse, Citi and Renaissance Capital will be working on the offering, the sources said.
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