The Board of Directors of OR PJSC (the parent company of Obuv Rossii Group) has decided to increase the authorized capital by placing additional shares for a total amount of RUB 2.8 billion, the company informed.
The additional issue will be placed by means of public offering with the current shareholders' pre-emptive right to purchase the new shares. 28.246 million shares with a face value of 100 rubles will be offered (25% of the previously placed ordinary shares).
The additional issue proceeds will be used to finance the company's further growth and implement a new business model, a unique retail format combining a retail network, the marketplace and an online platform.
Obuv Rossii Group is the parent company of OR PJSC., the first public company in the Russian fashion retail segment. Established in 2003, Obuv Rossii is headquartered in Novosibirsk and has an office in Moscow. The company is primarily engaged in the production and sales of footwear and related products.
IFRS net profit of Obuv Rossii for 2019 increased by 26.7% to RUB 1.687 billion versus RUB 1.332 billion in 2018. The group's consolidated audited revenue increased by 18.6% to RUB 13.702 billion against RUB 11.554 billion. Total LFL revenue of Obuv Rossii Group increased by 5.2%. Gross profit grew by 11.4% to RUB 7.562 billion from RUB 6.789 billion. EBITDA increased by 25.5% to RUB 3.583 billion against RUB 2.855 billion.