MOSCOW, November 8. /TASS/. Shares of the Russian children's goods retailer Detsky Mir extended losses on Tuesday as they fell by more than 9% on Moscow Exchange, according to trading data.

As of 10:15 am Moscow time, the company’s shares were down by 9.49% at 55.3 rubles. By 10:30 am Detsky Mir shares narrowed losses to 8.84% trading at 55.7 rubles.

On Monday the company’s shares lost 10% by the end of trading day.

On November 7, the retailer said the company might be reorganized into a private firm, which assumes the reorganization of Detsky Mir in the form of a spin-off of LLC Detsky Mir as a subsidiary operating company. Upon completion of the reorganization, it is planned that shareholders of the public company will be offered the opportunity to exchange their shares for shares in a subsidiary of Detsky Mir that will hold a 100% interest in the private company Detsky Mir. The retailer does not plan to propose to the Extraordinary General Meeting of Shareholders the issue of payment of interim dividends for nine months of 2022 either.

Detsky Mir Group is a multi-format omnichannel retailer operating on the market of children’s goods in Russia, Kazakhstan, and Belarus. The group comprises the Detsky Mir and the Detmir Pickup retail chains, the detmir.ru online store and marketplace, as well as the Zoozavr pet supplies retail chain. As of June 30, 2022, the total number of the group’s stores amounted to 1,123 across 442 cities and towns in Russia, Kazakhstan and Belarus. The group’s total selling space was 981,000 sq. m.