South West | Retail, FMCG

Magnit plans public placement of $562.8m shares

4 Sep '09
Krasnodar retailer Magnit intends to increase its authorized capital through public placement of follow-on shares, Kommersant reports.

Under plans, the firm is to place 11.154 million ordinary shares or 11.8% of its increases authorized capital.

According to the companys capitalization at the London Stock Exchange (LSE) as of 4 pm of September 3, 2009, the stock was estimated at $562.8m.

The shares are to be placed publicly at RTS, MICEX and LSE, the firm said.
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Locations: Krasnodar Krai

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