Magnit announces capital raise, CEO sells share block

Sam Kerr

November 14, 2017 05:30 pm

PA-MagnitCEO — MOSCOW, RUSSIA - OCTOBER 3, 2017: Sergei Galitsky, general director of Russian retailer Magnit, president and owner of FC Krasnodar, attends a meeting of the Council for the Development of Physical Fitness and Sport. The meeting reviews the 2017 FIFA Confederations Cup and discusses preparations for the 2018 FIFA World Cup in Russia. Mikhail Metzel/TASS | Mikhail Metzel/Tass/PA Images

The CEO of Russia’s largest retailer Magnit is selling a block of Rb41.4bn ($700m) worth of Moscow-listed shares, to fund his subscription to a capital increase, also announced this evening.

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Central and Eastern Europe (CEE)Equity VTB Capital Bank of America ABBs-Block Trades Europe Emerging Markets CEE Equity EMEA CEE Russia

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Sam Kerr