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White & Case Advises Detsky Mir on First Russian IPO of 2017

White & Case Advises Detsky Mir on First Russian IPO of 2017

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White & Case has advised PJSC Detsky Mir, Russia's largest children's goods retailer, as issuer, and PJSFC Sistema, as selling shareholder, on the RUB 21.1 billion (approximately USD 360 million) IPO of up to 33.55 percent of Detsky Mir’s ordinary shares on the Moscow Exchange. Credit Suisse, Goldman Sachs International, and Morgan Stanley are acting as Joint Global Coordinators and Joint Bookrunners, with Sberbank CIB and UBS Investment Bank also acting as Joint Bookrunners. The banks were represented by Linklaters.

According to White & Case, this marks the first Russian market IPO in ten years in the non-food retail segment, the first IPO in Russia this year, and the largest IPO in EMEA so far in 2017.

The White & Case team advising on the transaction was led by Partner Darina Lozovsky and Local Partner Dmitry Lapshin, and included Partner Inigo Esteve (London) and Associates Amulang Povaeva and Yulia Akulinina (both Moscow).

Linklaters did not reply to our inquiry on the matter.  

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