Retail Group plans to raise USD 50-100 mln via share sale

Retail Group (RTGR), operator of retail chain Velyka Kyshenya, said on Friday that it planned to raise USD 50-100 mln via a share sale within the next 2-3 months in order to reduce its debt load and further develop its retail network. Roman Lunin, chairman of the supervisory council of Kviza, which oversees Velyka Kyshenya, according to Interfax, said that five companies were interested in acquiring a portion of Retail Group. According to Interfax, the company’s debt as of December 8, 2008 was about USD 150 mln.