Retailer Victoria Considering IPO

Moscow and St Petersburg focused grocery retailer Victoria has announced it is considering either an initial public offering (IPO) or the selling of equity to a financial investor in 2010 to finance growth. Although few Russian firms have listed over the past 18 months, if Victoria was to go ahead with the IPO, it will join four of Russia's largest grocery retailers including X5 and Magnit. Whichever route it pursues, it is unlikely that the company will invest the majority of the proceeds on organic store growth. According to the credit rating agency Fitch, Victoria has a significant proportion of

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