Russian food retailer Dixy Retail is planning to float on the London Stock Exchange.

Reports suggest that Citigroup and Deutsche Bank have been appointed to handle the listing which is expect to proceed within the next few weeks and could value the retailer at £1.5bn.

Last year, Russian supermarket chain Pyaterochka listed on the London Stock Exchange. It has since merged with Perekryostok to create Russia's largest supermarket group.