MOSCOW, Jun 16 (PRIME) -- Megapolis, one of Russia’s largest tobacco distributors, plans to make an initial public offering (IPO) in London in September–November, Russian business media reported Thursday citing sources close to the deal.
The company has chosen Credit Suisse, JP Morgan, Deutsche Bank, Renaissance Capital, and Troika Dialog along with Sberbank to act as organizers of the offering.
Megapolis has already held meetings with investors during a non-deal road show conducted in April and May, an investment banker told Kommersant business daily.
The company plans to sell up to 30% of its shares, a source close to the offering told the daily, adding that both additional shares and the shares of existing shareholders were to be sold.
No official comments were available.
Megapolis is part of Russian businessman Igor Kesayev’s Mercury holding, which also controls Russian food retailer Dixy Group. Megapolis is an exclusive distributor of the Japan Tobacco, Philip Morris, and Imperial Tobacco corporations in Russia and controls over 70% of the Russian wholesale cigarette market, as estimated by market participants.