Conyers, working alongside Stanislav Grigoryev, IPO counsel of Fix Price and a team from Skadden, Arps, Slate, Meagher & Flom LLP, has advised Fix Price Group Ltd on its successful US$2 billion initial public offering on the London Stock Exchange (ticker: FIXP).
The shares will be tradeable as global depositary receipts with a secondary listing on the Moscow Exchange. The listing, which was oversubscribed, results in Fix Price becoming the most valuable publicly-listed BVI company to date with a market capitalization of approximately US$8.3 billion. The IPO is the largest ever listing for a Russian retailer and the largest Russian IPO since 2014.
Fix Price is one of the leading discount variety retailers globally and the largest variety value retailer in Russia with over 4,200 stores operating under the trade mark “Fix Price” located primarily in Russia, and also in Belarus, Kazakhstan and Uzbekistan. The group is also engaged in wholesale operations by servicing a number of franchisees that operate in Russia, Belarus, Georgia, Kazakhstan, Kyrgyzstan and Latvia.
The Conyers team comprised Anton Goldstein (Picture) and Rachael Pape.
The Skadden team advising Fix Price in London and Moscow was led by Pranav Trivedi and Inara Blagopoluchnaya, and included Dmitri Kovalenko, Danny Tricot, Claire Consoli, Daria Lipovtceva and Sagar Singh (corporate), and Alex Jupp and Alex Rigby (tax). Sally Thurston advised on New York tax matters.
Involved fees earner: Anton Goldstein – Conyers Dill & Pearman; Rachael Pape – Conyers Dill & Pearman; Inara Blagopoluchnaya – Skadden Arps Slate Meager & Flom; Claire Consoli – Skadden Arps Slate Meager & Flom; Alex Jupp – Skadden Arps Slate Meager & Flom; Dmitri Kovalenko – Skadden Arps Slate Meager & Flom; Daria Lipovtceva – Skadden Arps Slate Meager & Flom; Alex Rigby – Skadden Arps Slate Meager & Flom; Sally Thurston – Skadden Arps Slate Meager & Flom; Danny Tricot – Skadden Arps Slate Meager & Flom; Pranav Trivedi – Skadden Arps Slate Meager & Flom;
Clients: Fix Price Group Ltd ;