Russia’s pound shop to launch London IPO

fix price

Fix Price, Russia’s version of Poundland, has set a course for a London stock market listing.

The Russian pound shop plans to raise at least $1bn (£718m) by listing global depositary receipts – certificates that allow investors to trade locally in foreign shares – on the main market of the London Stock Exchange.

Fix Price is seeking a valuation of $6bn (£4.3bn) as its low price proposition gains popularity with domestic customers.

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