Russia saw Wednesday its first IPO since the war in Ukraine began with local kicksharing service Whoosh raising 2.1 billion rubles ($32.6 million at the current exchange rate) on the Moscow exchange. The IPO valued the company at 20.6 billion rubles ($320 million). This is a very honorable performance for a Russian startup launched in …
Kicksharing service Whoosh completes Russia’s first IPO of the year Read More
Russian kicksharing service Whoosh intends to go public on the Moscow Exchange this or next year, unnamed sources told Forbes Russia and Reuters last week. Under plans, the e-scooter company could raise 10 billion roubles ($167 million at the current exchange rate) at a valuation of around 40 billion roubles ($666 million), Reuters learned. A Whoosh spokesperson told Reuters: “Like …
Top Russian e-scooter service aims to raise $167 million on Moscow Exchange Read More
Russian e-commerce major Ozon plans to reach operational break-even in the next 12 months, the company’s finance chief Igor Gerasimov said on Tuesday. “We’ve started to improve the economy – you can see that in the first quarter of this year (…) In the next 12 months, we intend to reach operational break-even,” he said at the forum of entrepreneurs …
In the instable environment created by Russia’s war on Ukraine, Yandex’s annual report to the US Security Exchange Commission (SEC) provides details on a range of pressing business issues and potential company risks. The report was issued Thursday by Yandex’s Netherlands-headquartered mother company, which has been listed on the Nasdaq since 2011. After the resignation …
Yandex scales back “many planned investments,” withdraws 2022 financial guidance Read More
Just weeks after warning of a potential bond payment issue, Russian e-commerce major Ozon is now ruling out any default risk. Cited by news agency RIA, the company’s business development director Anna Karpova said Ozon had “113 billion rubles on its accounts,” which is enough to “cover [its] obligations.” “We see loyalty on the part of [securities …
Prosus, a Dutch investor affiliated to South African Naspers, announced yesterday it will write off its 25.9% stake in VK Company. This stake was valued on its books at $700 million, as stated by the company. “Over the last week, international sanctions have been imposed on many Russian entities and individuals. These include sanctions on the CEO and indirect …
Naspers writes off $700 million investment in Russian Internet major VK Company Read More
Russia’s Nasdaq-listed e-commerce player Ozon on Friday said that holders of its bond maturing in 2026 may be entitled to redeem the principal and interest accrued if trading remains halted until March 8, but has the cash in its accounts to pay. Trading of Ozon’s shares on Nasdaq was suspended on Feb. 28 and if suspension …
Russia’s Ozon, following Yandex, warns of bond payment issue Read More
Yandex, arguably the most successful and emblematic Russian digital company over the past 25 years, could default in a matter of days. The company warned about this risk today even though none of its entities, main shareholders, directors or managers have been targeted by western sanctions. The threat originates in the fact that, this past Monday, the …
After Nasdaq stock suspension, Yandex could default on $1.25 billion convertible notes Read More
Earlier this month — just weeks after it began trading on the Nasdaq — Russian online real estate service Cian.ru announced “changes in publication rules” and started deleting ads offering rentals “for Slavs only.” According to this new policy, “advertising text must not contain direct or indirect discrimination, nor incitement to discrimination based on race or ethnicity (including indicators such as …
Nasdaq-listed Cian.ru bans racial discrimination in rental ads Read More
Cian, a leading online real estate classifieds platform in Russia, began trading on the New York exchange on Friday, Nov. 5, with a secondary listing on the Moscow exchange announced as imminent. At a company valuation of $1.1 billion, Cian shares had been oversubscribed 10 times by investors, a source in the financial market told Reuters. In their debut on the Nasdaq, the …
Softline, an international IT solution and service provider with Russian roots, started trading today on the London Stock Exchange with a secondary listing in Moscow. New shares worth $400 million were sold at $7.50 apiece, valuing Softline at about $1.5 billion, according to a company statement cited by Bloomberg. The company initially targeted a valuation of around $2 …
Russian IT major Softline raises $400 million in London IPO Read More
This past Friday Delimobil Holding S.A., a Luxembourg-registered, Moscow-based car-sharing company, filed for listing on the New York Stock Exchange. BofA Securities, Citigroup Global Markets and VTB Capital will act as joint lead book-running managers while Banco Santander, Renaissance Securities and Sberbank CIB will be joint bookrunners, the company said, cited by Reuters. A pioneer …
Russian car-sharing major Delimobil files for listing in New York Read More
