Pyaterochka founders sell 3.5% of X5 Retail on market
MOSCOW. July 24 (Interfax) - The founders of the Pyaterochka retail chain, which X5 Retail Group took over, have sold 3.5% of X5 Retail.
As of June 30, the Pyaterochka founders had 16.35% of X5 Retail instead of their former 19.85%.
The majority shareholder - Alfa Group maintains a 47.86% stake and the free float climbed by almost the same 3.5 percentage points to 35.71% from 32.17%. Thus, it is likely that Pyaterochka's former owners sold the shares on the market.
The Pyaterochka founders are Andrei Rogachev, Alexander Gidra, Igor Vidyaev and Tatiana Franus. Sources told Kommersant newspaper that Gidra probably sold his shares.
X5 Retail Group posted a net loss of $126.5 million in 2012, down from $302.2 million in 2011. Revenue climbed 2.2% to $15.46 billion. The retailer lost its top spot among Russia's retailers for revenue to its main rival Magnit in the first and second quarters of 2013.