Russians Seeking Bargains Have Discounter Familia Eyeing IPO
- Familia hires Morgan Stanley, Goldman prepare for share sale
- Russian off-price chain may hold IPO in New York in early 2022
A Familia store in Moscow.
Photographer: Andrey Rudakov/BloombergThis article is for subscribers only.
Russia’s biggest off-price fashion store is considering an initial public offering after a record listing by Fix Price Group Ltd., as local discounters thrive during a seven-year slump in incomes.
Familia, whose shareholders include Goldman Sachs Group Inc., TJX Cos. and Baring Vostok Capital Partners, hired Morgan Stanley and Goldman to prepare for an IPO in New York as early as the start of 2022, according to a person familiar with its plans, who asked not to be identified because it is not public. Spokespeople for the banks declined to comment.