Euroset plans IPO in 2012

Russia-based mobile phone retailer Euroset is considering an initial public offering on the London stock exchange in the second quarter of 2012, RBC reports. The move comes after the company postponed its IPO on the London Stock Exchange in April this year, blaming sluggish investor demand and market volatility.

According to Euroset President Alexander Malis, the company will need the funds to open several thousand stores in the next two to three years and is also discussing paying up to 75% of net profit in annual dividends to its shareholders.