ОSG Records Management, a major Russian online backup and document archive solution provider operating in Eastern Europe, could go public in early 2012, Russian business daily RBC Daily reported yesterday.
OSG’s initial public offering could take place on the Warsaw stock exchange. “Poland is our second largest market after Russia,” OSG Financial Director Mikhail Shokhorov explained. “This makes Warsaw a viable option for our IPO.”
The initial public offering is expected to provide OSG with the necessary capital to finance its continued fast growth, especially in Russia.
According to the private equity fund Aurora Russia Limited, which owns 95.5% of the company, OSG’s revenues grew by 34% to $17.9 million from January to August of this year. The company’s EBITDA reached $2 million.
