X5 plans to start trading shares on Moscow Exchange in early 2025 - CEO

MOSCOW. Oct 4 (Interfax) - X5 Group (PJSC X5 Corporate Center ) hopes to launch trading in the retailer's shares on the Moscow Exchange early next year, CEO Igor Shekhterman said during a conference with the retailer's partners.

"X5 plans to enter the Russian stock market early next year. The company will have nearly 350,000 private investors," Shekhterman said.

X5 is currently finalizing procedures related to the suspension of the corporate rights of the former X5 holding, which is a company of the same name registered in the Netherlands.

At the end of September, the Russian X5 completed distributing the GDRs of the Netherlands company for shares of the PJSC to the holders of securities in foreign and Russian depositories. The undistributed securities total approximately 10.22%, the Netherlands company said.

Therefore, the shareholders of the Netherlands X5 are holding a meeting on November 1, during which they must choose what to do with the securities, namely either return 10.22% of the PJSC to the Netherlands group, or request monetary compensation. The Netherlands X5 itself views the option with compensation as the most optimal, as it contains fewer risks.

X5 operates the Pyaterochka, Perekrestok and Chizhik stores, and develops the Vprok.ru, 5Post, express delivery, and Mnogo Lososya cafe outlet projects. The group united 25,466 stores as on June 30, 2024.