Retailers prepare for 2013 IPOs

Among Ukrainian retailers preparing for initial public offerings (IPO) next year are the two top consumer electronics retailers Fokstrot (with 228 stores) and Comfy (with 78 stores) intending to list on the London and Warsaw stock exchanges.

During 2012, the companies reportedly plan to focus their activities on developing their corporate governance, ensuring their financial and legal audits provide transparency for investors. Local press reports suggest that both companies could sell up to 30% of their shares, and the head of Fokstrot, Uve Klenka, reportedly said that the company is planning to develop its wholesale business in Georgia and to consider a merger in the market, as part of its strategy for preparing for the IPO.