Partner of the Magnit founder Vladimir Gordeychuk sold half of his shares. Ours in Forbes

A minority shareholder of Russia's largest retail chain Magnit, Vladimir Gordeychuk, has sold approximately half of his stake, International Financing Review (IFR; part of Thomson Reuters) reported. The price range was 9500–9600 rubles. per share of Magnit, according to these IFRs, the deal was closed on November 4 at the lower limit, the seller raised 11.4 billion rubles. At the close of trading on the Moscow Exchange, a Magnit share cost 10,360 rubles, so the discount was 8.3%.

The collection of applications was carried out in an accelerated manner in one day, when Russia celebrated the national holiday Day of National Unity, which was declared a day off. UBS was the bookrunner, Bloomberg writes. According to these Magnit, at the end of September 2016, Gordeychuk owned 2.3% of Magnit; over the past years, he gradually reduced his stake in the company: before the IPO in 2006, Gordeychuk had 5.5% of Magnit.

Gordeychuk, who graduated from the Novorossiysk Marine Engineering School with a degree in navigator in 1988, began collaborating with Galitsky back in the mid-1990s, when he got a job as a driver in his distribution company. Before that, he worked as a long-distance navigator, he wrote to Kommersant in 2006. Later, Galitsky said in an interview that his area of ​​responsibility was the general vision, and operational management was with his partner, Gordeychuk.

Trade plan

The main owner of Magnit, Sergei Galitsky, plans to sell approximately 1-1.5% of this stake in the company to the market every year in the next few years. The entrepreneur spoke about this at the beginning of 2016 at meetings with analysts and investors in London and New York. Galitsky needs weapons to finance personal projects. At the beginning of 2016, Galitsky directly owned 38.7% of the shares of Magnit, and by the end of September - 35.1%, according to these companies

At the beginning of 2016, Gordeychuk prematurely left his position as CEO of the retailer’s operating company, JSC Tander, but remained a member of the recommendation of directors of Magnit. Then two Vedomosti sources explained that the top manager allowed him to retire.

Gordeychuk’s role in managing Magnit has decreased; he devotes much less time to it, recalls Mikhail Burmistrov, general director of Infoline Analytics. In addition, Galitsky always gradually reduces his stake in the company (see inset) and this is an event expected by the market, the expert adds. As a rule, the sale of a block of shares by one of the main shareholders or top managers is a negative signal for the market, notes Raiffeisenbank senior analyst Natalya Kolupaeva. But if a shareholder sells securities for personal reasons, this will not have a long-term impact on the retailer’s quotes, Kolupaeva notes: rather, in the case of the sale of part of Gordeychuk’s stake, this is actually what we are talking about. “The example of Galitsky, who is gradually reducing his share of ownership, is well known to investors. I think they will take the sale of part of the stake by Gordeychuk just like that,” Kolupaeva believes.

The logic behind the sale of Magnit's securities is now good, Burmistrov believes. The situation in the Russian economy does not look very rosy even in the long term; the growth of the food market has slowed down noticeably, he argues: “It would be good if the turnover of retail trade in food products grows by 3% in 2016, and in 2017–2019. – by 4–5%.” Almost no one in retail will be able to grow as quickly as in past years, even with a relatively stable ruble exchange rate, Burmistrov points out, and investors in developing bazaars evaluate growth rates primarily. Due to reasons beyond Magnit’s control, its dollar market capitalization will remain at the current level, and most likely it will even decline, says Burmistrov: investors’ assessment of the Russian bazaar will be revised.

In addition, Magnit was faced with a slowdown in business growth amid the rapid growth of its main competitor, Pyaterochka X5 Retail Group. The changes at Magnit that investors have been waiting for are taking place, albeit with some delay, recalls Burmistrov. Since October, all of Magnit’s “convenience stores” have been opening in a new format, a strategy for transforming operating facilities has been outlined, it remains to solve problems in the “hypermarket” format and update the assortment, which is still much inferior to “Pyaterochka”, especially in large cities, Burmistrov listed .

Minority shareholder of Magnit Vladimir Gordeychuk reduced his stake in the retailer from 2.33% to 1.06%. This is stated in the company's materials.

1.2 million shares were sold at a price of $148.93 per share. The transaction for the sale of 1.3% of Magnit shares took place on November 4, its amount was $178.71 million.

The fact that Gordeychuk is going to hold an auction for the sale of 1.2 million shares (approximately 1.3% of shares) of Magnit was reported by Bloomberg on November 3, citing documents that were in the agency’s possession.

In February 2015, the general director and main owner of Magnit, Sergei Galitsky, held an SPO, placing about 1% of Magnit's authorized capital. As a result of the placement, the retailer raised about 9.8 billion rubles, which it planned to invest in the development of its other projects. Galitsky also stated that he plans to sell approximately 1% of the retailer’s shares annually.

Magnit is the largest retail chain in Russia in terms of revenue and number of stores. As of December 31, 2015, the retailer operated 12,089 stores, including 9,594 convenience stores, 219 hypermarkets, 155 Magnit Family stores and 2,121 cosmetics stores.

Gordeychuk Vladimir Evgenievich (born August 15, 1961, Krasnodar, RSFSR, USSR) is a Russian entrepreneur, one of the founders, partner. Member of the Board of Directors of PJSC "Magnit".

In 1988 he graduated from the Novorossiysk Higher Marine Engineering School with a degree in navigator.

An extremely non-public figure. According to media reports, he was a long-distance navigator, and in 1996 he joined the distribution company of Sergei Galitsky as a simple driver. He knew English and translated the inscriptions on bottles of household chemicals and cosmetics that the company then sold. Galitsky later said in an interview that his area of ​​responsibility is the general vision, and operational leadership lies with his partner, Gordeychuk.

Before Magnit's IPO in 2006, Gordeychuk had a 5.5% stake in the company. At the end of September 2016, he owned 2.3% of the shares; in November 2016, it became known that Gordeychuk sold half of his stake - just over 1% - for 11.4 billion rubles. At the beginning of 2016, Gordeychuk prematurely left his position as CEO of the retailer’s operating company, Tander JSC, but remained a member of the board of directors of Magnit. Then two Vedomosti sources explained that the top manager decided to retire.

From June 2006 to January 2016, he served as General Director of Tander JSC, and from April 2006 to January 2016, Deputy General Director of Magnit PJSC. Since 2016 - member of the company's board of directors.

Since 2014, he has been a member of Forbes magazine's "Russia's 200 Richest Businessmen" rating. In 2014, it took 128th place in this ranking with a capital of $800 million, in 2015 it dropped to 141st place ($600 million), and in 2016 to 188th place ($400 million). In 2017, he was not included in the Russian Forbes list.

Married, has two children.

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Born in 1961.

Education

He graduated from the Novorossiysk Marine Engineering School with a degree in navigator.

Activity

Gordeychuk served as a long-distance navigator, and in 1996 he joined Galitsky’s distribution company as a simple driver.

He knew English and translated labels on foreign perfume products for saleswomen.

"Themes"

"News"

Partner of the Magnit founder Vladimir Gordeychuk sold half of his shares

A minority shareholder of Russia's largest retail chain Magnit, Vladimir Gordeychuk, has sold approximately half of his stake, International Financing Review (IFR; part of Thomson Reuters) reported. The price range was 9500–9600 rubles. per share of Magnit, according to IFR, the deal was closed on November 4 at the lower limit, the seller raised 11.4 billion rubles. At the close of trading on the Moscow Exchange, a Magnit share cost 10,360 rubles, so the discount was 8.3%.

The collection of applications was carried out in an accelerated manner in one day, when Russia celebrated the national holiday Day of National Unity, which was declared a day off. UBS was the bookrunner, Bloomberg writes. According to Magnit, at the end of September 2016, Gordeychuk owned 2.3% of Magnit; over the past years, he has gradually reduced his stake in the company: before the IPO in 2006, Gordeychuk had 5.5% of Magnit.

Russian indices are trading in different directions amid the weakening ruble

Last Friday, when trading in shares on Russian exchanges was not carried out due to a holiday, minority shareholder of Magnit Vladimir Gordeychuk sold more than 1% of the shares of the retail chain.

As reported by the media, the price range was 9500-9600 rubles per share. The lower limit of the range was 8.3% lower than the closing price of Thursday trading (10,360 rubles).

Magnit quotes fell by 5%

Magnit shares fell in price during trading on Monday by more than 5% due to news about the sale of approximately half of his stake by the company's minority shareholder Vladimir Gordeychuk.

Quotes of "Magnit" by 11.16 Moscow time fell by 5.6% to 9,870 rubles.

As reported by the International Financing Review (IFR; part of Thomson Reuters), Gordeychuk has sold about half of his stake. The price range was 9500–9600 rubles. per share of Magnit, according to IFR, the deal was closed on November 4 at the lower limit, the seller raised 11.4 billion rubles. At the close of trading on the Moscow Exchange, a Magnit share cost 10,360 rubles, so the discount was 8.3%.

"Magnit" did not fulfill the sales plan due to the last two weeks of 2015

Child permutations

As of January 11, the powers of the general director of Magnit’s operating subsidiary, the Thunder company, Vladimir Gordeychuk, were terminated ahead of schedule, Magnit said in a statement. Instead, Alexander Barsukov, who is on the board of Magnit, was appointed general director of Thunder. Gordeychuk has led Thunder since 2007, according to SPARK-Interfax.

The Investigative Committee opened a case against the retail chain Magnit

The Investigative Department of the Investigative Committee of the Russian Federation for the Saratov Region opened a criminal case, suspecting Tander CJSC (the operating company of the Magnit retail chain) of discrimination against employees of a distribution center (DC) in the city of Engels “on the basis of belonging to public associations,” the local department of the Investigative Committee reported Russia.

“Magnit” for investors

“Krasnodar Thunder, the operator of the Magnit discount stores, disclosed data on the shareholder structure and business profitability before issuing bonds. The founder of Magnit, Sergei Galitsky, controls 67% of the chain, which challenges the leadership of the food market leader, Pyaterochka. Large stakes belong to Galitsky's partners - Moscow banker Alexei Bogachev (20%) and the second person in the company Vladimir Gordeychuk (5.5%).

Magnit attracted investors

Magnit, the second largest food retailer in Russia, managed to sell its depositary receipts (one share corresponds to five GDRs) on exchanges for $13, that is, almost at the upper limit of the established price range of $12-13.5 per GDR. The company itself sold approximately 5.6 million shares of the additional issue or approximately 6% of the increased authorized capital for $365 million. Three of its founders, Sergei Galitsky, Vladimir Gordeychuk and Alexey Bogachev, gained another $158 million by selling personal shares - about 2.7% of the increased authorized capital. They will invest the proceeds in construction, factoring and food production.

Magnit sold shares worth almost half a billion dollars

This fall, Magnit increased its authorized capital by 10.8 million shares (previously its size was almost 89 million securities). In early December, on the MICEX and RTS, the company sold 4.1 million shares at $85 per share, receiving $350 million. Yesterday, the retailer reported that its own shareholders brought it almost $125 million more, having bought 1.47 million securities also at $85. The main shareholders, including Sergei Galitsky and Vladimir Gordeychuk, did not take part in the redemption of the additional issue.

Magnit intends to raise about $350 million as part of the SPO

The company expects to raise about $350 million, Magnit said in a statement. The retailer's main shareholders, including Sergei Galitsky and Vladimir Gordeychuk, will not take part in the share repurchase.

Magnit will hold an SPO before the end of the year

The main holders of Magnit shares, including businessmen Sergei Galitsky and Vladimir Gordeychuk, do not plan to take part in the buyout. The company plans to use the proceeds to expand its retail network and develop logistics. Capital expenditures next year are planned at up to $1.4 billion.

Magnit raised $475 million from an additional share issue

The company's shareholders acquired, by preemptive right, 1.47 million ordinary shares, or 13.6% of the additional issue for a total amount of $124.8 million. The retailer's largest shareholders - Sergei Galitsky, Vladimir Gordeychuk and some others did not take advantage of the preemptive right.

Magnit increased its capital by $475 million from the placement of its shares

Previously, Magnit reports noted that the main shareholders, including Sergei Galitsky, Vladimir Gordeychuk and some others, did not submit applications to purchase shares as part of their exercise of preemptive rights.

Selling "Magnit"

The deal is scheduled to close on October 29, and the road show began late last week. The company will issue up to 11.2 million securities, taking into account the packages that existing shareholders can purchase under the preemptive right. However, three of the major owners - Sergei Galitsky, Alexey Bogachev and Vladimir Gordeychuk - do not intend to retain their shares, but, on the contrary, will sell part of their existing securities. They can raise $160 million, and the company itself – $365 million.

Retailer Magnit placed 52% of the additional share issue and raised $475 million

As the company reported, the retailer's largest shareholders - Sergei Galitsky, Vladimir Gordeychuk and some others - stated that they would not exercise their right of first refusal.

The main owner of the Magnit chain, Sergei Galitsky, again reduced his stake in the company - to 37%

The retailer announced its intention to offer additional shares of common stock in the form of global depositary receipts (GDRs), where five GDRs represent one share. In addition to this, the company's shareholders - Labini Investments Limited, Lavreno Limited and Vladimir Gordeychuk - intend to offer a portion of their existing ordinary shares in the form of GDRs and ordinary shares.

Magnit missed $155 million

Another $156 million was raised during the SPO by Magnit founders Sergei Galitsky (through Laverno), Alexey Bogachev (through Labini) and Vladimir Gordeychuk. None of them signed up for the new issue, a source close to the retailer’s shareholders said earlier.

Magnit rode a wave of optimism

The Magnit retail chain previously belonged to the Krasnodar-based Tander CJSC. In January 2006, in order to enter the stock exchange, the company was re-registered as OJSC Magnit. The shareholders of Magnit are Sergey Galitsky (66.45%), Cypriot offshore Labini Investment Ltd (22.49%, nominal holder of the package is Sistema Bank), director of the network Vladimir Gordeychuk (5.5%), financial director Alexander Prisyazhnyuk (1%) and commercial director Nikolai Panuli (1%). At the end of 2005, the Magnit chain included 1,500 stores in more than 400 cities; in the first quarter of 2006, another 74 stores were opened. The company's revenue in 2005 amounted to $1.578 million, EBITDA - $78 million.

Magnit will spend $250 million on development

During Magnit's SPO, international institutional investors subscribed to 5.68 million shares of the additional issue in the form of GDRs worth $369.2 million. Applications for another 2.42 million shares of the new issue were submitted by existing shareholders with pre-emptive rights. Another 2.4 million shares were sold for $156 million by the company’s founders Sergei Galitsky (through the Lavreno company), Alexey Bogachev (through Labini) and Vladimir Gordeychuk.

Magnit provided its subsidiary with a loan of 3 billion

OJSC "Magnit" is the main owner of the companies included in the holding of the same name. The main shareholders at the end of the first quarter of 2007 were: General Director Sergey Galitsky (51%), nominal holders of LLC CB Sistema (0.21%), CJSC CB Citibank (0.06%). The shareholders are also management, including members of the Board of Directors Andrey Harutyunyan (0.26%), Vladimir Gordeychuk (4.33%), Alexander Prisyazhnyuk (0.75%), Dmitry Chenikov (0.35%) and member of the audit commission Valery Butenko (0.3%).