Altius Capital may acquire up to 220.961 million shares (29.9% stake) in Detsky Mir, according to a statement by Altus Capital.
The shareholders are encouraged to participate in the offer. Securities will be purchased at RUB 160 per share. The proposed price is based on the value of 100% of the outstanding shares estimated at RUB 118.24 billion.
Altus Capital is an independent investment and consulting company specializing in direct investments in fast-growing and undervalued companies.
Detsky Mir Group (trading on the Moscow Exchange under the DSKY ticker) is a multi-format retailer leading in the segment of children's goods in Russia. The group unites the Detsky Mir retail chain, the Detmir Pickup, ELC (in Russia) and ABC chains, as well as Zoozavr, a pet product chain.
Adjusted IFRS profit of Detsky Mir for 9 months of 2020 decreased by 23.2% to RUB 3.8 billion. Profit for the period net of adjustments decreased by 24.7% to RUB 3.4 billion. Consolidated unaudited revenue increased by 9.5% to RUB 98.4 billion from RUB 89.8 billion. Revenue from the online segment increased 2.5 times to RUB 22.1 billion. Revenue of Detsky Mir network in Kazakhstan decreased by 7.2% to RUB 2.4 billion. Adjusted EBITDA increased by 15.8% to RUB 11 billion from RUB 9.5 billion. For the 9-month period in 2020, the company opened 30 new Detsky Mir stores, one store of the Detmir Pickup chain and three Zoozavr stores.
