Russian Web Retailer Ulmart Aims to Raise $1 Billion in 2016 IPO
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Ulmart, Russia’s largest online retailer, plans to sell $1 billion of shares in an initial public offering next year to fund expansion in the country’s e-commerce market.
The company is likely to be valued at $5 billion to $6 billion, based on preliminary valuations by investment banks, St. Petersburg-based Ulmart said today in a statement.