Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Belarus food retailer Eurotorg to list in London

The retailer is the country’s largest grocery chain with 19% of the food market in Belarus
Belarus gained independence from the Soviet Union in 1991

Eurotorg is set to defy a wobbly market for IPOs and become the first company from Belarus to list in London.

The retailer is the country’s largest grocery chain with 19% of the food market in Belarus. Eurotorg generated revenues of US$2.1bn in the year to June, making an underlying profit of US$195mln.

The Belarusian economy grew by 4.5% in the first half of 2018.

Paying down debts

Eurotorg is looking to raise US$200mln to pay down its debts with a secondary offering of US$100mln also part of the IPO.

The GDRs will join the standard segment of the Official List 

Andrei Zubkou, chief executive, said the IPO alongside the appointment of three non-executive directors with experience in the retail, global tech and digital businesses would help develop its market-leading, profitable e-commerce operations.

The GDRs will join the standard segment of the Official List, while a roadshow will start on 24 October.

View full PROAC profile View Profile

Proactiveinvestors Timeline

Related Articles

Students in a class
August 27 2018
The company is gaining traction in Asia where people are looking to take language courses to work or study internationally
Marketing and public relations
April 04 2018
"Our Beyond, MBooth and Publitek agencies have been stand-out performers, whilst we have achieved solid performances pretty much across the portfolio"
September 19 2018
“Cello Health is successfully building its early stage asset development advisory platform for biotech clients, as well as growing its core later stage and post-launch franchise with pharmaceutical clients”

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use