Russia’s Dixy food retailer may float shares in London or New York

Mercury holding company, a core shareholder of Russian food retailer Dixy, is mulling the listing of Dixy shares in London or New York in the medium term, Mercury President Igor Kesarev said at a news conference on Monday.

Earlier on Monday, Dixy announced a 100 percent acquisition of Victoria grocery chain. Kesarev, whose company owns a 54.4 percent stake in Dixy, said the merged retailer chain would become a company with high capitalization.

“To create a multi-billion (ruble) business, perhaps, we will need an additional trading floor,” he said. Currently, Dixy’s shares are listed on Russia’s RTS and MICEX stock exchanges.

“There are few major trading floors left – it is either London or New York. But Russian companies prefer London,” he said, without specifying the date of the share offering.

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