Kopeika plans IPO for autumn

Kopeika plans to place an IPO in the autumn this year, the Russian media reported. The Moscow-based retailer may offer around 30% of shares. Possible buyers include X5 Retail Group or Walmart. Both retailers have discussed the possibility of acquiring the retailer in the past year. An acquisition of a minority stake in Kopeika would a good move for X5 as Kopeika competes with X5’s Pyaterochka stores in Moscow. Similarly, acquiring a stake in Kopeika would give Walmart a base for its expansion in Russia.