Capital markets

Russian IT major Softline plans dual listing on London and Moscow exchanges

October 5, 2021

Softline, an international IT solution and service provider with Russian roots, confirmed yesterday its IPO plans. As reported by Reuters, the company plans to raise some $400 million through an IPO on the London Stock Exchange and a secondary listing in Moscow. Targeting a valuation of around $2 billion, Software will float 20-25% of its shares, “a person familiar with the matter” …

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Russian-founded graphene nanotube leader aims to raise up to $800 million through SPAC merger

October 11, 2021

OCSiAl, the Russian-founded global graphene nanotube leader (pronounced ‘Oxial’), intends to get listed on a Western exchange until the end of this year by merging with a SPAC. The company aims for a $3 billion valuation, its co-founder Yuri Koropachinsky told Forbes Russia last week.  “We’re having very deep discussions with nine SPAC companies,” he said.  SPACs are becoming trendy among Russian-founded …

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Cian, Delimobil target New York IPOs this autumn

November 9, 2021

Russian car-sharing major Delimobil and online real estate classifieds leader Cian are considering US IPOs this autumn, hoping to raise around $350 million each, according to “financial market sources” cited by Reuters on Tuesday.  Delimobil, which announced a $75 million private equity round this past June, is now eyeing a $350 million listing on the New York Stock Exchange and a …

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Sber considers listing digital subsidiaries in a few years

September 6, 2021

Sber, the state-controlled financial and digital giant, considers having some of its digital subsidiaries listed, stated Sber President Herman Gref last week on the sidelines of the Eastern Economic Forum, reiterating previous statements.  The placement, however, would not take place before 2023, news agency Interfax reported Gref as saying.  Sber’s digital ecosystem includes a myriad of companies in the …

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Yandex buys Uber out of food delivery partnership in $1 billion deal

September 1, 2021

Yandex has struck a $1 billion deal to buy out U.S. ride-hailing giant Uber from a host of the pair’s joint ventures in Russia, the company announced Tuesday.  Yandex and Uber first combined their ride-hailing businesses in 2017, with a deal to merge their operations in Russia and a number of other ex-Soviet countries. This partnership has seen the pair cement …

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A SPAC with Russian flavors: Nexters and Kismet complete merger

September 24, 2021

Nexters, one of the most successful Russian-founded game development companies, is going public today through a merger with special-purpose acquisition company (SPAC) Kismet. The company is traded on the NASDAQ under the new ticker symbols “GDEV” (ordinary shares) and “GDEVW” (warrants). The Kismet SPAC which just merged with Nexters closed its $250 million NASDAQ IPO in …

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The SPAC wave hits Russia

February 16, 2022

Could a company from Russia, or with strong connections to Russia, ever be targeted by a SPAC? The question remained open until very recently, given the small numbers of international IPOs from Russia — the latest example in the digital field being Ozon in November last year. Such a player has now emerged, with Nexters …

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Online video leader IVI raises $250 million from state and private investors, keeps western IPO potential

October 7, 2021

Russian online video major IVI (ivi.ru) announced today a $250 million funding round involving top state and private investors. This is one of the biggest deals of the past years on the Russian tech scene, and an all-time record in the online video segment.   The consortium of investors includes several big names, combining two major …

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Segezha Group: How a Russian forestry major addresses digitalization and sustainability challenges

March 29, 2024

Segezha Group, a major Russian producer of fiber-based packaging and forestry products, is a global leader in sack paper (#2), paper sacks (#2) and birch plywood (#5). Unlike most of its industry peers, the group is fully vertically integrated and controls its own forests. Operating across several countries, it holds long-term (typically 49 years) leases …

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This former Russian deputy minister is now worth $10 billion after NASDAQ IPO

September 28, 2021

A new Russian tech billionaire emerged last week on the NASDAQ with the SPAC-enabled listing of Arrival, a company touted as a game-changer in the electric car industry.  Born 42 years ago in the Soviet republic of Georgia, Denis Sverlov founded in first company — an ERP integrator called IT Vision — in 2000, immediately after graduating the …

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2020 in Eastern Europe: Battle of titans in Russia; revolution in Belarus; resilience in Ukraine

January 26, 2021

Crunchbase and East-West Digital News are teaming up to cover key tech and venture trends from Russia and other countries of the former Soviet Union. The latest column, by EWDN chief editor Adrien Henni, highlights the most notable industry facts and trends of the past year.  These include, in particular: Major moves from the three Russian digital leaders: Mail.ru …

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