Detsky Mir sets price of mandatory offer to minority shareholders at 71.5 rubles per share, non-residents to receive payouts in Type "C" accounts only

MOSCOW. Oct 5 (Interfax) - Detsky Mir Financial Assets, the structure that owns a controlling stake in PJSC Detsky Mir , has sent a mandatory offer to minority shareholders to buy out their shares, the company said in a statement.

The repurchase price is set at 71.5 rubles per share; it is planned to repurchase up to 307,140,398 securities. Non-resident minority shareholders from unfriendly countries who accept the mandatory offer will be able to receive funds for the shares they sold only in type "C" accounts (with withdrawal restrictions).

Applications from minority shareholders will be accepted from October 5 through December 14. Payments will be made within 17 days after the end of the offer period.

As a result of the proposal, DMF may become the sole owner of Detsky Mir. Now the company owns 58.26% of the company.

In addition, the retailer plans to apply to the Ministry of Finance to obtain permission for settlements with non-residents to pay the remaining funds after settlements with creditors during the liquidation of PJSC Detsky Mir, bypassing "C" accounts, the company indicates.

Detsky Mir is the largest specialized retailer in the children's goods market. The company held an IPO in February 2017. The placement price was 85 rubles per share. In November 2022, the company announced its transformation into a private business; in May 2023, the company announced the launch of a basic offer that would last through August.