Russian toy retailer Detsky Mir has received enough offers to cover the 150 million shares that existing investors plan to sell in a secondary public offering, a financial market source and two sources close to the offering said.
Russia’s Sistema and the Russia-China Investment Fund (RCIF) said last week they were aiming to cut their holdings in the company to 36% from 52.1% and to 9.7% from 14% respectively.
Sistema and the Russian Direct Investment Fund, one of RCIF’s stakeholders, declined to comment.
Source: Reuters.com