MOSCOW, Oct 17 (Reuters) – Russian household goods retailer Williams et Oliver is considering an IPO within the next five years, the finance director of parent company Patriot Group said on Monday.
Russia’s IPO market has stalled since Moscow deployed tens of thousands of troops to Ukraine in February, but some companies are beginning to make tentative plans again, and cybersecurity firm Positive Technologies held a second IPO late last month.
“There are plans,” Marina Shevlyakova, Patriot Group’s finance director, said at an online conference that marked Patriot’s first-ever placement of 200 million rubles ($3.23 million) of three-year bonds.
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“Maybe in the next five years. We have plans to be a leader (in the industry) and the only way to become a leader is through an IPO,” she said.
Williams et Oliver aims to increase annual sales from 861 million rubles in 2021 to 2.3 billion rubles by 2025 and increase net profit from 61 million rubles to 134 million rubles.
Revenue rose 47% in the first half of 2022, the company said.
Patriot Group head Dmitry Shirokov said Williams et Oliver plan to expand in Russia and move into Kazakhstan.
The company is preparing to launch its own private label products, which will be produced in China, Turkey and Indonesia, he said.
($1 = 61.9490 rubles)
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Reporting by Olga Popova; writing by Felix Light; Edited by Alexander Marrow and Susan Fenton
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