CEE Equity

Shares in Migros Ticaret, one of the biggest supermarket chains in Turkey, fell 8.5% on Wednesday after BC Partners sold a 7.3% stake in the company in a block trade on Thursday night. The shares fell another 3.5% on Thursday.

Oleg Tinkov, the Russian billionaire, has sold a stake in TCS Group Holding, the London-listed Russian retail bank he founded, for the first time since its $1bn IPO in 2013, taking advantage of a strong rally in the stock this year.

Russian retailer Magnit is continuing its capital raising efforts, after its CEO Sergey Galitskiy sold a block of shares on Tuesday night, in the first leg of what is locally called “a top-up” transaction.

The CEO of Russia’s largest retailer Magnit is selling a block of Rb41.4bn ($700m) worth of Moscow-listed shares, to fund his subscription to a capital increase, also announced this evening.

Globalworth Real Estate Investments, the Aim-listed real estate investment trust focused on central and eastern Europe, plans to raise around €300m of fresh equity, and is preparing to move to the main market of the London Stock Exchange in 2018.

There were several large equity block trades on Wednesday night this week, including a rare sale of shares in one of Russia’s biggest steel companies.

En+ Group, the Russian power and metals company controlled by Oleg Deripaska, began trading in London and Moscow on Friday after the book for its $1.5bn IPO came together at “the last minute,” according to a banker on the deal.

The IPO of EN+ Group, the Russian power and metals company controlled by Oleg Deripaska, has got covered at its base size, on the penultimate day of the bookbuild.

After weeks of risk-on behaviour, a cautious mood has gripped Europe’s equity capital markets after several of this season’s biggest IPOs traded badly in the aftermarket.

On Monday night, Dmitry Grishin, the Russian entrepreneur, sold a chunk of his stake in Mail.ru Group, the internet services company he co-founded, via an accelerated bookbuild led by Goldman Sachs on the back of reverse enquiries from investors.

Russian lender Credit Bank of Moscow (CBM) raised Rb14.4bn ($250m) of fresh equity with a 13.4% capital increase this week.

En+ Group, the Russian power and metals company controlled by Oleg Deripaska, has opened the books for its $1.5bn IPO in London and Moscow, which may value it at up to $8.5bn if the deal is priced at the top of its price range.