Russian IT service provider IBS is considering holding an initial public offering in 2018, two financial market sources and a source familiar with the company’s plans told Reuters this Wednesday.
The company has yet to decide on the size of the offering and hire banks to handle the deal, the sources said.
IBS declined to comment on specific plans; but in June, IBS’s co-owner and founder Anatoliy Karachinskiy was quoted by the Russian media as saying that IBS could hold an IPO on the Moscow Exchange within two years.
Founded in 1992, Moscow-headquartered IBS addresses its clients’ complex IT problems to support their strategic development and increase process efficiency. The company also provides services in business application implementation, IT infrastructure design and building, data management and analytics, systems integration, software and unique customized solution development, as well as information security and outsourcing.
IBS delisted from the Frankfurt Stock Exchange in 2014, but its spin-off Luxoft, a custom software development company with more than 13,000 employees and 42 offices in 21 countries, has been listed on NYSE since 2013.
Source: NASDAQ
