Henderson chain plans IPO on Moscow Exchange – Kommersant
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The Henderson men’s clothing chain intends to hold an IPO on the Moscow Exchange, reports RBC with reference to sources. According to one of them, the placement is planned for the fourth quarter, but the exact date is not yet known.
Another interlocutor of the publication said that Henderson plans to sell 10-15% of its shares on the Moscow Exchange and raise about 3-4 billion rubles. The company expects a business valuation of approximately 27–30 billion rubles. According to the source, the proceeds are expected to be used to develop the network, including doubling the area of existing stores (from 100 to 200 sq. m. and from 350 to 700 sq. m.).
Henderson’s press service said they were exploring various strategic development options, but did not announce specific plans.
Henderson men’s clothing stores have been operating in Russia since 1998. Initially, the trademark belonged to the Polish retailer LPP Group (brands Reserved, House, Cropp, Mohito and Sinsay). In 2003–2004, LPP Group assigned the rights to the brand to Tami and KO LLC (this legal entity belongs to HFG JSC). The chain now includes 159 stores in Russia and Armenia. At the end of 2022, HFG’s revenue amounted to 12.4 billion, profit – 1.8 billion.
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