Fix Price plans re-domiciliation from Cyprus to Kazakhstan

MOSCOW. Oct 9 (Interfax) - Fix Price may change jurisdiction from Cyprus to Kazakhstan, the retailer said in a statement.

This issue may be approved at an extraordinary meeting of shareholders on November 9.

Fix Price plans to maintain its GDR listing on the London Stock Exchange and Moscow Exchange after completion of the re-domiciliation process.

It is thought the company will be registered on the territory of the Astana International Financial Center in Kazakhstan.

The shareholders could also approve a new memorandum and articles of association after re-domiciliation at a separate extraordinary meeting on November 9.

Fix Price had 262 outlets and 1,600 employees in Kazakhstan as of September 20.

Fix Price is Russia's biggest fixed rice retailer but has a presence in nine other countries. At the end of June, the chain had 6,039 stores, including 5,372 of its own stores and 667 franchise stores. In Russia there were 5,428 stores, including 4,872 own stores.