Shares of Magnit continue to fall in price after a sharp collapse on Friday, October 20. Will the company of Sergey Galitsky win back the trust of investors and restore its positions?
The companies achieved such positions due to the "innovative premium", the difference between the capitalization and the discounted cash flow from the existing business.
Sale of assets and dividends earned them about $12.4 billion of revenues in 2016.
Sergey Galitsky's Magnit gives ground. Soon the businessman will have no money for elite cars and football club.
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.
Rules of non-resource business of the two major Russian businessmen, the founders of Magnet and Yandex.
Suleiman Kerimov didn't manage to achieve in football what Sergei Galitsky did.