Moscow Exchange launches trading in Fix Price GDRs

On 10 March 2021, trading in Global Depositary Receipts of Fix Price Group Ltd began on Moscow Exchange following the company’s successful IPO. The ticker for the GDRs is FIXP.

The GDRs have been included in MOEX’s Level 1 quotation list. Trading and settlement is conducted in RUB.

Fix Price GDRs are listed on Moscow Exchange and the London Stock Exchange.

The company raised USD 1.7 bln at its IPO. The offer price was set at USD 9.75 per GDR. Market capitalisation at the offering price was $8.3 bln.

Yury Denisov, Chief Executive Officer of Moscow Exchange, said: "The largest IPO by a non-state Russian company for a decade is a great way to start the year. The combined efforts of the company, the banks and other advisors and MOEX contributed to the success of the transaction. Russian and International investors are always interested in new names, and this is a positive signal for companies currently preparing to come to market. For new issuers, Moscow Exchange offers reliable markets infrastructure where all classes of institutional investors are represented alongside more than 10 million individual investors."

Dmitry Kirsanov, CEO of Fix Price, said: "The success of our IPO – the largest ever by a Russian retailer – represents a landmark not just in the history of Fix Price as a company but also in the development of Russian capital markets. We are proud of the strong business we have built over the past 14 years, with a robust business model that delivers high growth rates and remains resilient throughout the economic cycle, as well as providing attractive returns for investors. I am delighted that the customers we serve every day now have the opportunity to participate in the success of Fix Price as our shareholders. I would like to thank the whole of the Fix Price team for their hard work to make the company the success that it is today, and welcome all of our new shareholders as we begin life as a public company."

BofA Securities, Citigroup, J.P. Morgan, Morgan Stanley and VTB Capital acted as Joint Global Coordinators and bookrunners for the offering.