Sergey Galitsky to sell 1% stake in Magnit annually
04.02.2016 389 views
He held 38.6% stake in the retail chain, as of December 31, 2015
In February 2015, Galitsky sold 1% of the Magnit capital in SPO through Lavreno Ltd. This allowed the company to raise up to 9.8 billion rubles. Galitsky planned to invest the funds in the development of other projects, the construction of a new stadium for Krasnodar football club owned by him.
As a result, Lavreno’s stake decreased from 3.8% to 0.65%. Another 2.5% stake is owned by V.Gordeychuk, and 0.2% - by Andrey Arutyunyan. 55.8% company’s shares were in free float, according to the data as of June 30, 2015.
After the meetings with investors Galitsky said that the retailer's revenues could increase by 20% in 2016. This year the company plans to open 2.3 thousand new stores, including 900-950 grocery stores, 80 hypermarkets and 1,200 beauty product stores, with capital expenditure estimated at 60 billion rubles.
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