Obuv Rossii, a Russian shoe retailer backed by billionaire Brooklyn Nets owner Mikhail Prokhorov, raised more than $100 million in the country’s first major initial public offering in eight months.

The company, whose name means "Shoes of Russia," was valued at 15.8 billion rubles ($275 million), selling shares at the bottom of the price range at 140 rubles apiece, according to a statement Friday. The offering size was 5.9 billion rubles and may reach 6.2 billion rubles, including a greenshoe option, Obuv Rossii said. Chief Executive Officer Anton Titov remained a controlling shareholder and Prokhorov kept his 25 percent stake.

Russian companies are slowly returning to share sales as the country’s economy returns to growth after the international sanctions and the collapse in oil prices in 2014 led to its longest recession in two decades. Billionaire Oleg Deripaska’s commodities company En+ Group Plc is preparing to raise as much as $1.5 billion in a London IPO, and cargo carrier Globaltruck Management announced plans to sell shares in Moscow earlier this month.

“International investors, including those from Europe and the U.K., accounted for over 70 percent of the IPO,” said Alexey Kletenkov, managing director of BCS Global Markets, which managed the sale along with Sberbank PJSC, Citigroup Inc. and Renaissance Capital. “Appetite for Russian assets returned as risks decreased amid economic improvement.”

The sale disproves the stereotype that Russian companies worth less than $500 million can’t be successfully marketed in IPOs to international investors, Moscow Exchange Chief Executive Officer Alexander Afanasiev told reporters Friday.

More Russian consumer companies may plan IPOs in the next 12 to 18 months, said Anton Malkov, managing director at Sberbank CIB.

Obuv Rossii became the first major IPO by a Russian company since billionaire Vladimir Evtushenkov’s children’s-goods retailer Detsky Mir PJSC sold shares in February.