Eurotorg announces postponement of IPO on London Stock Exchange
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.