Ogier has advised as British Virgin Islands counsel to Bank of America Securities, Citigroup, JP Morgan, Morgan Stanley and VTB Capital plc, the joint global coordinators and bookrunners, in respect of Fix Price Group Ltd's US$2 billion initial public offering on the London Stock Exchange.

The listing values Fix Price at US$8.3 billion, making it the largest ever listing for a Russian retailer and also the biggest Russian IPO for more than a decade.

The Ogier team comprised Jersey-based Simon Schilder and Christian Burns-Di Lauro who worked as BVI counsel alongside the underwriters' main English and Russian law counsel team, White & Case LLP.

Commenting on the deal, Simon said: "We are delighted to have worked alongside White & Case LLP and advised the underwriters to this IPO. Working alongside teams in London and Moscow demonstrated the advantage of having a European-based BVI team able to service these time zones seamlessly."

Fix Price is one of the leading variety value retailers globally and the largest variety value retailer in Russia, with more than 4,200 stores located in Russia, Belarus, Kazakhstan, Uzbekistan, Latvia and Georgia.

The IPO sees an offering of global depositary receipts representing shares at an offer price of $9.75 per global depositary receipt, which will be tradeable on the London Stock Exchange (as their main market) and the Moscow Exchange (as their secondary market).