The Russian equivalent of Lidl expected to raise €800 million.

The Russian discounter Fix Price announces a stock market listing in London for March 2021, expecting to raise €800 million. This represents €4.9 billion for the company value, which manages 4,200 stores in Russia and the former U.S.S.R. countries. Like B&M in the U.K. and Dollar General in the U.S.A., Fix Price sells 1,800 items (food, beauty, cleaning products) at fixed prices. The vast majority of the range sells for less than €1.09. Last year, its revenues grew by 33% to €2.08 billion for a net margin of €190 million. X5 and Magnit, Russia’s principal hypermarket chains, recently launched their own discount stores, a thriving concept amid the current economic turmoil. In 2020, Russian pure-player Ozon also successfully raised international funds. Listed on the New York Stock Exchange, the firm was valued at over €5 billion at the I.P.O.