Russian grocer O’key planning a £315m London share offer

first_img RUSSIA’S third biggest food retailer O’key plans to raise up to $500m (£315m) in a London share offer to fund expansion, making it the latest Russian firm to revive IPO plans. O’key, which operates a 52-store chain, will launch a global offering of global depositary receipts (GDRs), with each GDR representing one share, by the year-end, it said yesterday.It did not confirm how much it wanted to raise from the deal — which will comprise both primary and secondary offer of shares. “There continues to be substantial under-penetration of modern retail throughout Russia and we believe we have the right business model and customer value proposition opportunity,” chief executive Patrick Longuet said. Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times KCS-content Tags: NULL Sharecenter_img Russian grocer O’key planning a £315m London share offer Read This Next’Kevin Can F**k Himself’: Here’s Why Only Allison and Patty Are SeenThe Wrap20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The Wrap’Batwoman’: Wallis Day on Circe’s ‘Deranged’ Warpath and the Key to SavingThe Wrap’Godzilla vs Kong’ Reaches $100 Million in US After Grossing $250,000 inThe WrapJoin a Conversation on ‘Cancel Culture in Comedy’ with Maz Jobrani, SkyeThe WrapAnya Taylor-Joy, Ralph Fiennes Join Searchlight’s Dark Comedy ‘The Menu’The WrapAfter ‘Black Widow,’ Kevin Feige Leaves Open the Possibility of OtherThe Wrap’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe Wrap whatsapp Tuesday 5 October 2010 8:23 pm whatsapplast_img read more

MGA ‘embracing innovation’ with Sandbox Framework

first_img Framework addresses virtual financial assets, tokens and ITAs Subscribe to the iGaming newsletter MGA ‘embracing innovation’ with Sandbox Framework The Malta Gaming Authority (MGA) has published its new ‘Sandbox Framework’ as part of an effort to place the regulator at the “forefront of gaming regulation” by exploring new technologies.The new framework covers the acceptance of virtual financial assets and virtual tokens, as well as the use of Innovative Technology Arrangements (ITAs) within the gaming sector.The MGA intends to split the framework into two phases, the first of which will commence on January 1 with the regulator accepting applications for the use of VFAs and virtual tokens as a method of payment.During the second phase, the framework will be extended to cover applications to use ITAs within the key technical equipment of licensees, coinciding with other related developments from the Malta Digital Innovation Authority.The regulator expects the framework to run until October 2019, but this could be partially or wholly extended. The framework is also open to changes, based on feedback and updates.MGA chief executive Heathcliff Farrugia (pictured) said: “The MGA’s strategic mission is to be at the forefront of gaming regulation whilst embracing innovation.“This, coupled with the rapid rise in interest from gaming operators to incorporate VFAs and DLT into their operations, were the main drivers behind the proactive approach taken by the Authority to issue a Sandbox Framework for the use of these technologies within a controlled regulatory environment.“This Framework is intended as a live document and will therefore be subject to feedback and potential updates during its duration, whilst also keeping in consideration any technological or regulatory developments which may occur.”The move comes as the MGA prepares to take on more regulatory powers, as set out under new gaming law that was approved by the Maltese Parliament earlier this year.The MGA’s powers to intervene will be strengthened, while the act will formalise the role of the MGA’s Player Support Unit as a mediator between aggrieved players and operators. In addition, the act envisages new processes for criminal and administrative justice in the country. Regions: Europe Southern Europe Malta AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Online Gambling Payments Topics: Strategy Tech & innovation 5th October 2018 | By contenteditor Strategy Email Addresslast_img read more