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Russia's Detsky Mir aims for London IPO in mid-March-sources

Reuters - UK Focus

MOSCOW, Feb 18 (Reuters) - Russian children's goods retailer Detsky Mir, owned by oil-to-telecoms conglomerate Sistema , is aiming to launch its planned London initial public offering in mid-March, two banking sources said on Tuesday.

Detsky Mir is among a number of retail companies hoping to tap into demand from foreign investors for stakes in consumer-oriented businesses in Russia and follows the flotation of telecoms firm Megafon (MCX: MFON.ME - news) in 2012 and Russian consumer credit firm TCS last year.

Other consumer-focused IPOs are expected this year such as hypermarket chain Lenta, part-owned by U.S. private equity firm TPG, corporate and individual loans bank Credit Bank of Moscow and German retailer Metro AG (Xetra: 725750 - news) 's Russian cash-and-carry business.

Detsky Mir is aiming to raise between $300 million and $400 million, one source said. The offering will include new shares, the source added.

JPMorgan, Credit Suisse (NYSE: CS - news) , Citi and Renaissance Capital (Other OTC: RNCG - news) will be working on the offering, the sources said.