O`KEY Group S.A. (LSE: OKEY, the “Group” or the “Company”), one of Russia’s leading food retailers, today announces that its Board of Directors has approved the Group’s intention to apply for a listing of O`KEY’s global depositary receipts (“GDRs”) on Moscow Exchange.
O`KEY expects its GDRs to begin trading in Moscow in December 2020. The Group will continue to maintain its primary listing on the London Stock Exchange, where O`KEY’s GDRs have traded since 2010.
Armin Burger, CEO of O`KEY Group, said:
“In recent years, the Group has created a competitive retail portfolio based on modern hypermarkets O`KEY and discounters DA!. Our well-established market position, combined with a resilient and flexible business model, enables us to continue growing the business and delivering cash returns to shareholders even amid the unprecedented challenges of this year. The management team has initiated a MOEX listing to provide access to O`KEY’s GDRs to a wider range of investors, and believes that this step will contribute to unlocking additional value for shareholders. Management sees significant potential for further growth, which we believe will be reflected in the Group’s performance and as a result in its market capitalisation.”
Heigo Kera, Chairman of the Board of Directors of O`KEY Group, commented:
“Listing on Moscow Exchange is designed to significantly strengthen O’KEY’s positioning and boost the liquidity of O`KEY’s traded securities. The Group continues to enhance its market presence in Russia with a particular focus on Moscow and St Petersburg, and is committed to build on its track record in order to grow its market capitalisation and strengthen its investment case.”
O`KEY Group S.A. (LSE: OKEY, RAEX – ‘ruA-’) is one of the leading grocery retailers in Russia, operating hypermarkets under the O`KEY brand and discounters under the DA! brand.
As of September 30, 2020, the Group operated 182 stores across Russia (77 hypermarkets and 105 discounters) with total selling space of 591,352 square meters. The company opened its first hypermarket in St. Petersburg in 2002 and has since demonstrated continuous growth. O`KEY was the first Russian food retailer to launch e-commerce operations in St. Petersburg and Moscow, offering a full range of hypermarket products for home delivery. The Group has six e-commerce pick-up points in Moscow and six e-commerce pick-up points in St. Petersburg. In 2015, the Group launched the first discount chain in Russia under the DA! brand. The Group operates four distribution centres in Russia – two in Moscow and two in St. Petersburg. The Group employs more than 20,000 people.
In 2019, Group’s revenue totalled RUB 165.1 billion, while EBITDA reached RUB 14.1 billion and net income climbed to RUB 747 million.
The O`KEY shareholder structure is as follows: NISEMAX Co Ltd – 44.79%, GSU Ltd – 29.52%, free float – 25.69%.
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