Sportmaster is planning to launch an initial public offering (IPO) in London in 2012, The Moscow Times reports. The company may raise between $600 million and $700 million through the listing.

The raised amount will be based on the company’s own valuation of $2.5 billion to $3 billion. Sportmaster is Russia’s largest sports equipment and clothes retailer.

Click here for the story from The Moscow Times.

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