LONDON – Deutsche Bank is today celebrating the admission of its client OJSC Magnit as the 100th Commonwealth Independent States (CIS) company to the London Stock Exchange (LSE). Of the 100 CIS companies admitted to the LSE, Deutsche Bank has been involved in more listings than any other investment bank.
Last week Deutsche Bank successfully completed a follow-on offering for OJSC Magnit while acting as Joint Global Coordinator and Joint Bookrunner. The transaction represents the largest Russian offering this year confirming the strength of the bank’s relationship with Magnit and its leadership in Europe, Middle East and Africa equity capital markets.
The offering size comprised 11.3 m new shares issued by the company and 0.2174 m shares sold by the company's controlling shareholder. The shares were offered to investors in the form of shares issued on the local exchanges, the Moscow Interbank Currency Exchange (MICEX) and Russian Trading System (RTS) and Global Depositary Reciepts (GDRs) being admitted to trading on the LSE.
Magnit, the largest food retailer in Russia by number of stores and one of the largest by sales volume, has been listed on the MICEX and RTS since 2006, when Deutsche Bank acted as Sole Bookrunner on its initial public offering (IPO).
“We look forward to continuing our relationship with Magnit and welcoming many new CIS companies onto the LSE. Many of our Russian clients see listing in London as the next step in their growth plans, and our teams in Moscow and London are committed to their on-going success,” said Reinout Koopmans, co-Head CEEMEA Equity Capital Markets, Deutsche Bank.
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