Billionaire Galitsky decided to sell 1% of Magnit per year

The owner of Magnet retailer, billionaire Sergei Galitsky, has decided to sell 1-1.5% of the company's shares per year. In February last year he sold about 1% of shares of Magnit for 9.8 billion rubles.
04.02.2016
RBC
Origin source
The fact that he was going to sell annually 1-1.5% of the company, Sergey Galitsky had told analysts and investors at meetings in London and New York, which took place earlier this week, write "Vedomosti" referring to the statement of the meeting . In addition, information on the sale of shares confirmed the publication CFO "Magnit" Khachatur Pombuhchan.

Statements regarding plans reduction of its share Galitsky made in response to investors' questions, whether he has an exit strategy from the business, he told the publication Pombuhchan.

According to him, out of the question that will soon be announced on the transaction, it is now the question. CFO "Magnit" claims that this is generally long-term plans.

The last time Galitsky selling stocks "Magneto" a year ago. In February 2015, the businessman has closed the sale to investors of about 1% of shares of "Magnit" for 9.8 billion rubles. Shares were sold within placement with accelerated formation of order book and costs 9823 rubles. a piece.

One of the reasons why Sergei Galitsky at the time required funds become obligationsconstruction of a stadium for FC "Krasnodar", owned by businessman. Now, according to the treasurer of "Magnit", which lead "Vedomosti", the financing of the stadium is formed, the money from the sale of new shares will be required for other projects. For example, earlier sounded projects Krasnodar gardening, reminded Pombuhchan.

"Magnit" is the largest retail network of food trade in Russia. As of December 31, 2015, it consisted of 9594 stores in the "shop at home" format, 219 hypermarkets, 155 stores "Magnit Family" in 2121 and the store.

The company's revenue in 2015 compared with the previous year increased by 24.3% to 947.8 billion rubles.

Sergei Galitsky takes 15th place in the rating "The richest businessmen of Russia" according to Forbes. Forbes estimates the state of "Magnit" the owner of $ 8.3 billion.

"On the possibility of reducing the share in" Magnit "Sergey Galitsky mentioned before, the attitude of investors to the company this should not affect, because we are talking about increasing the level of liquidity of securities of the company is good for the minority shareholders of theÖner. We can assume that Sergei Galitsky have ideas of projects, non-reteylom, and perhaps the business itself. Apparently, the funds necessary to finance these projects, exceed the amount of dividends, so Galitsky is considering selling a few percent "Magnit". Package Size, voiced Galitsky, - this is only a reference point, and not worth it to be taken literally, "- explains a senior analyst at Raiffeisenbank Natalia Kolupaeva.

Company officials were unavailable for comment Wednesday night.

The cost of securities of "Magnit" at the close of the London Stock Exchange remained unchanged to the previous capitalization was $ 17 billion.