Co-owner Sokolov announced plans to conduct a double listing in the United States and Moscow in 2023 
Russian jewelry chain Sokolov is going to conduct a dual listing in the United States and Moscow in 2023, co-owner of the company Artem Sokolov told Reuters.
Sokolov is considering both the New York Stock Exchange and the Nasdaq to go public in the US, and it is planned to raise about $ 500 million. The company is now betting on significant revenue growth and development of its retail network, Sokolov said.
Sokolov has been making jewelry and doing wholesale for many years, and in 2014 it launched its own brand and soon began to develop retail. As a result, its market share has tripled, and retail now accounts for almost half of its revenue, which should amount to about 30 billion rubles at the end of the year.
The company does not disclose profit data. “We have always been profitable. Now we have an exponential development of revenue and profits, ”Sokolov pointed out. Next year, the company intends to open 15-20 stores in Kazakhstan and launch a retail network in Germany.
In early November it was reported that Mercury Retail Holding had changed its mind about going public. The IPO was supposed to take place on November 10 and become the largest on the Moscow Exchange since 2013. Mercury Retail Holding PLC is the largest seller of alcohol in Russia, the holding owns Krasny & Bely and Bristol.