Russian retailer X5 considers IPO for online business

Russian retailer X5 considers IPO for online business

X5 Retail Group NV's Perekrestok hypermarket in Moscow, controlled by billionaire Mikhail Fridman. Photographer: Andrey Rudakov/Bloomberg

Russia’s largest food retailer X5 is discussing plans for an initial public offering (IPO) for its online business, a company official said on Thursday, honouring a pledge to place online expansion at the heart of its latest strategy.