London, 20 October 2017 – BCS Global Markets (“BCS”), the leading Russian independent financial house, today announced that it has conducted the initial public offering (IPO) of Obuv Rossii on the Moscow Exchange.
BCS Global Markets acted as the Joint Global Coordinator and Joint Bookrunner on the IPO of OR PJSC (the “Company” and, together with its subsidiaries, “Obuv Rossii” or the “Group”), a leader in Russia’s footwear market with over 500 stores in more than 140 Russian cities and two production facilities.
The total size of the Offering is 6.2 bn roubles with over-allotment option included. The company’s capitalization reached 15.8 bn roubles after the IPO and the free float will be 39.4% of the increased share capital, including the sale of the Over-Allotment Shares.
The deal follows the appointment last year of five senior hires in BCS’s Investment Banking team, aimed at expanding BCS’ business and capabilities. BCS’s success in completing the deal is evidence of the success of this strategy, and will form the basis for further expansion within the Russian Investment Banking market.
Said Azer Mamedov, Managing Director, BCS Global Markets:
We are fully satisfied by the results of the Obuv Rossii placement. This transaction became in many ways illustrative, like similar transactions of the recent period. It demonstrates a high level of investors’ interest in mid-size high quality companies. As a result, we managed to put together a diversified order book, inter alia, thanks to the retail tranche. We hope that this IPO will open the way for other Russian mid cap issuers to the Russian equity market.
A message from management of BCS Global Markets
The continuously evolving nature of the global coronavirus situation has meant we at BCS Global Markets (BCS) are taking all necessary steps to keep business disruption to an absolute minimum.
Effective from today (Wednesday 18th March) employees from all divisions of the business based in our Russia, UK, USA and Cyprus offices who can work from home without creating any even minor possible risk for business continuity of the Group will be working remotely. It is very much business as usual at BCS. Our employees are equipped with secure access to our systems and will follow their normal working hours, keeping in regular contact with their colleagues and clients.
Despite ongoing disruption caused by COVID-19, we want to also assure you that following a sustained period of positive performance, our capital and liquidity position remains very strong. The business is well-placed to meet any subsequent financial challenges and will continue to go above and beyond for our clients.