Mercury Retail Holding

History

2022: Creation of the holding company Mercury Retail Holding

The Cyprus holding Mercury Retail Holding, which manages the Red and White and Bristol alcohol store chains, registered Mercury Retail Holding in Russia at the end of December 2022. Read more here.

2021

IPO rescheduling due to market situation

Mercury Retail Group, which manages the Krasnoye and Beloe and Bristol retail chains, has changed its mind about conducting an IPO on the Moscow Exchange due to the market situation. The company announced this on November 9, 2021. According to Interfax, the book of applications as part of the IPO of Mercury Retail Holding was fully signed. The listing is planned later.

Announcement of entering the Moscow Stock Exchange

In early October 2021, Mercury Retail Holding, which owns the Red and White and Bristol store chains, announced that it was going public. Global depositary receipts (GDR) are included in the third quotation list of the Moscow Exchange under the ticker symbol MRHL.

The retailer set the placement range at $6-6.5 per GDR, which corresponds to the company's estimate of $12-13 billion. The volume of the offer is up to 200 million GDR, each of which certifies the right to one ordinary share of the company. Based on the price range of the offer, it is planned to earn $1.2-1.3 billion on the listing, the company points out. The volume of the transaction corresponds to up to 10% of the shares.

The owner of the networks "Red and White" and "Bristol" went public

The selling shareholder is Mercury Retail Group Limited, the company said in a statement, the retailer itself will not receive funds from the transaction. The main shareholders of Mercury Retail - Sergey Studennikov, Igor Kesaev and Sergey Katsiev, the message does not specify whose interests and in what proportion represents Mercury Retail Group Limited. The structure of the transaction also provides for a stabilization option in the standard volume - 15% of the base.

Global coordinators and bookrunners in the IPO are BofA Securities, JP Morgan, SberCIB and VTB Capital. Gazprombank and Renaissance Capital also act as joint bookrunners.

The company announced the IPO on October 27. The day before, the Kommersant newspaper, citing sources, reported that the owners of the group could sell 10-15% of the securities during the placement. The cost of the group was estimated by its owners at $20-25 billion, according to the publication. But analysts interviewed by Vedomosti cited smaller estimates: from $12 billion to $18 billion.

By the end of June 2021, Mercury Retail operated more than 14,000 stores of the Krasnoe & Beloe and Bristol brands in 68 regions of Russia. The total retail area of ​ ​ stores exceeded 1 million square meters. m.

MERCURY RETAIL HOLDING PLC ANNOUNCES PRICE RANGE FOR IPO ON MOSCOW EXCHANGE