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Russian e-commerce leader Ulmart reports 50% sales increase in 2014, plans IPO in 2016

Ulmart, Russia’s leading e-commerce company, confirmed today its plan to go public next year in a yet-to-be-determined Western stock exchange, the company’s chairman and co-owner Dmitry Kostygin told Russian business daily RBC.

Ulmart is thus considering raising $1 billion or more in exchange for 25% of the company’s shares. Advisers for the IPO could be appointed in the next few months.

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