Svyaznoy, Russia’s second leading mobile retailer, may go public in Q2 2012, according to Denis Lyudkovsky, the company’s general manager. The announcement was made at a press conference yesterday. The final decision will depend, among other factors, on the success of the impending IPO of Euroset, the market leader.
“Our valuation is no less than for Euroset,” declared Lyudkovsky, who however did not rule out alternatives to an IPO.
On the same day, Svyaznoy proudly announced its net profit had increased tenfold and its EBITDA more than tripled in 2010, while its turnover grew 63%. Svyaznoy’s EBITDA reached 4.2 billion rubles ($140 million), representing a 7.5% margin.
Euroset’s IPO on LSE, announced this Tuesday, could take place next April.
Sources: Svyaznoy, RIA Novosti
