M.Video still has plans for SPO, waiting for favorable market situation
MOSCOW. Nov 12 (Interfax) - PJSC M.Video , part of the M.Video-Eldorado group, still has plans to conduct an SPO and is waiting for the market situation to improve, the company's financial director Anna Garmanova said.
"We continue to wait for a window on the market, and as soon as it appears, we'll quickly carry out all the procedures, announce the price and complete the offering. For now, we don't have any certainty in this regard. We are ready," Garmanova said during a Smartlab broadcast on Tuesday.
The company has not yet determined the specific parameters of the placement, she said.
"We of course want to sell shares at a higher price. We want to make a public offering. One of our shareholders has expressed the desire to acquire these shares. But nevertheless, we want to conduct a market offering, and then everyone will take part on equal terms," she said.
The company already has registered shares for an additional issue, she said.
M.Video has "a lot of projects that will allow the company to invest its money in an advantageous way and earn more," Garmanova said in response to a question about what the attracted funds will be allocated to.
In July, the Central Bank of Russia registered an additional issue of 30 million shares and a prospectus for PJSC M.Video securities. It is planned that the shares will be placed through an open subscription. The company's charter capital currently stands at 1.797 billion rubles, divided into 179.77 million shares with a nominal value of 10 rubles each. If the entire amount of the additional issue is placed, its charter capital will increase 17%.
It was previously reported that M.Video had received the preliminary approval of one of the group's shareholders, the investment holding PJSC SFI , to acquire all of the additional issue as part of exercising its preemptive right and/or through the open subscription.
SFI owned 10.37% of M.Video's shares as of December 31, 2023.
The company's other shareholders include Ericaria ILLC with 50% and Media-Saturn-Holding with 15%. At the end of 2023, Ericaria's beneficiary was concealed, but its principal owner was previously Said Gutseriev.
