Sportmaster, the leading sporting goods retailer in Russia and in...

Sportmaster, the leading sporting goods retailer in Russia and in the rest of the former Soviet Union, and a major wholesaler in the territory, is said to be considering a flotation on the London Stock Exchange sometime in 2012, according to Reuters. Sportmaster could raise between $600 million and $700 million in the initial public offering based on a valuation of $2.5 billion to $3 billion. Renaissance Capital forecasts that Sportmaster's revenues will reach $1.3 billion for the 2010 financial year ending Aug. 31, generating operating earnings before amortization (Ebitda) of $306 million. Officials of the Russian company declined to comment on these reports.