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07.11.2018

Eurotorg announces postponement of IPO on London Stock Exchange

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE UNITED STATES OF AMERICA, RUSSIAN FEDERATION, AUSTRALIA, CANADA AND JAPAN OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. 
  
THIS ANNOUNCEMENT IS AN ADVERTISEMENT FOR THE PURPOSES OF THE PROSPECTUS RULES OF THE UK FINANCIAL CONDUCT AUTHORITY ("FCA") AND NOT A PROSPECTUS (OR PROSPECTUS EQUIVALENT DOCUMENT) AND IS NOT AN OFFER OF SECURITIES FOR SALE, NOR A SOLICITATION OF AN OFFER TO ACQUIRE OR A RECOMMENDATION TO SELL OR BUY SECURITIES, IN ANY JURISDICTION, INCLUDING IN, INTO OR FROM THE UNITED STATES OF AMERICA, RUSSIAN FEDERATION, AUSTRALIA, CANADA AND JAPAN. NEITHER THIS ANNOUNCEMENT NOR ANY PART OF IT SHALL FORM THE BASIS OF OR BE RELIED ON IN CONNECTION WITH OR ACT AS AN INDUCEMENT TO ENTER INTO ANY CONTRACT OR COMMITMENT WHATSOEVER. 

7 November 2018 

Eurotorg Holding Plc (the “Company”, and together with its consolidated subsidiaries, “Eurotorg” or the “Group”), the largest grocery retailer in Belarus, today announces that it has postponed its planned IPO (the “Offering”) on the London Stock Exchange, due to current market conditions. Despite significant interest in the business from investors, Eurotorg has decided to pursue its IPO when capital markets conditions become more favourable for emerging markets. 

In meetings with analysts and investors, Eurotorg received significant interest. Investors particularly noted the Company’s equity story and the professionalism of the management team, as well as the growth prospects for modern retail formats and e-commerce in the Belarusian grocery retail market. 

Eurotorg plans to revisit its IPO plans as soon as market conditions become more conducive to achieving a valuation that reflects the Company’s true potential. In the meantime, the Company’s strong free cash flows will allow it to continue executing on its growth strategy. 

Media enquiries 

EM (public relations advisor to Eurotorg) 

Denis Denisov
denisov@em-comms.com
+7 985 410 3544

Peter Morley
morley@em-comms.com
+44 7927 186 645

Tom Blackwell
blackwell@em-comms.com
+7 919 102 9064

Maria Levitov
levitov@em-comms.com
+44 7553 092 429

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