Kopeika desperately seeking funds

Moscow-based retailer Kopeika is pressing on with preparation for an IPO and at the same time is in talks over the sale of its business. Deutsche Bank, Morgan Stanley and Uralsib Capital were hired as IPO arrangers. The possible buyer could be X5 Retail Group - which is currently awaiting authorisation for the deal from the FAS - or Walmart, which has been actively looking for an acquisition target to enter Russia. If the decision to hold an IPO is adopted, Kopeika is to offer the open market up to 40% of its share capital.