MKS to Open 20 to 25 New Stores in 2008

MKS (KVIN: BUY), an electronics and computers retailer, plans to open 20 to 25 new stores next year, according to Alexander Golovchenko, the company’s CEO. Overall area of new facilities will amount 14 ths m2. MKS will focus on expanding in eastern and central regions of Ukraine. Also, the company is about to issue domestic bonds worth USD 10 mln in January, and Eurobonds later in 2008. Golovchenko said he expects 2007 revenue of USD 170 mln and next year about USD 255 mln. MKS currently operates 64 stores; it plans to have a total of 70 by yearend. Given the announced expansion, MKS’s chain will grow to about 100 stores by 2009.