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Southeast Europe
May, 2018 www.intellinews.com I Page 20
Russia's HeadHunter Group seeks to raise $250mn with NASDAQ IPO
IntelliNews Pro
Russian human resources major HeadHunter Group plans to raise $250mn in an IPO on NASDAQ, Reuters said on April 2 citing the information by the Securities and Exchange Commission.
Previous unconfirmed reports in January 2018 said HeadHunter was interested in an IPO in either Moscow of US. The deal will be organised by Goldman Sachs, Morgan Stanley, Credit Suisse, BofA Merrill Lynch, as well as domestic VTB Capital and Sberbank CIB.
The privately owned company is owned by the private equity fund Elbrus Capital, which bought the company in 2016 from Russian internet services major Mail.ru for RUB10bn ($174mn).
HeadHunter is the leader in the market of Internet recruitment in Russia, Ukraine, Kazakhstan, Belarus and Azerbaijan. The site attracts monthly
unique visits of 19mn, and the resume base is more than 20mn chasing 300,000 vacancies.
HeadHunter is the third most popular in the ranking of employment sites according to the SimilarWeb web analytics platform, the Elbrus Capital website reports.
HeadHunter has been working since 2000. In 2007, Digital Sky Technologies (DST), the invest- ment vehicle of technology investors Yuri Milner and Alisher Usmanov, purchased 24.5% of its shares for $15mn that valued the company at $61.2mn at the time.
In 2008, DST bought another 12% for $11mn, and a year later another 56.61% for $37.5mn. In 2010, DST was renamed the Mail.ru Group and placed shares on the London Stock Exchange, and in 2012 increased its stake in HeadHunter to 100%.