Nova Linia considers placing 5%-15% stake

Chairman of the Administration of Ukrainian home improvement retail chain Nova Linia Oleg Shandar said yesterday that the company could sell a 5%-25% stake via private placement. The company had planned to hold an IPO at end-2008 at a MCap of USD 450-500 mln. Nova Linia completed a five-year financial audit according to IFRS. The company’s 2008 net income was UAH 50 mln, up 30% yoy; and turnover was UAH 2.7 bln, up 80% yoy.