Evroset Planning IPO for 2008
Evroset, Russia’s largest mobile phone retailer, expects to sell about 20 percent of its shares in an initial public offering planned for 2008.
Moscow-based Evroset plans to hold the IPO after Russia’s presidential elections in March of that year and to list in Russia, Yevgeny Chichvarkin, co-owner of the company, said in Moscow today. The company may also seeking a London listing for its shares.
Evroset opened 1,331 outlets in the first nine months of this year, raising the total number to 4,442, the company said in October. The company also has outlets in Ukraine, Kazakhstan, Belarus, Kyrgyzstan, Uzbekistan, Lithuania, Estonia and Moldova.
Evroset’s nine-month sales rose 84 percent to $3.1 billion as the company sold 8.1 million mobile phones in the period, or 28 percent more than in the same period a year earlier.
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