Lenta, the hypermarket chain of Russia, partly owned by TPG, the private equity firm from the United States together with VTB Capital of Russia, is in the process of choosing the financial institutions for the conduct of an initial public offer of its shares by next year. This was confirmed by two anonymous sources familiar with the said transaction.

Amongst the banks selected are Credit Suisse, Deutsche Bank, JP Morgan Chase & Co and VTB Bank. 

There are few stocks in the Russian market that shone brightly in the market and these are shares in the retail and consumer market. Many analysts say that a stock market listing by Lenta would help fund managers find profit through stocks that the growing Russian middle class supports.

The MICEX consumer index of Russia has increased by just 11% in 2013 compared to the decline of 13% experienced by the full MICEX index.