Page 2 - bne_newspaper_June_28_2019

Top Stories
June 28, 2019 www.intellinews.com I Page 2
Russia's Yandex.Taxi reportedly plans IPO
Yandex has not yet decided on where to list the Yandex.Taxi or the size of the deal, according to Abovsky. "We consider the Moscow Exchange an important exchange. At the same time, it should be taken into account that Uber is trading on the NYSE, and (rival taxi firm) Lyft on NASDAQ," he told Reuters, while noting that the issue would most likely be primary shares, not secondary.
Yandex trades on NASDAQ with a capitalisation
of almost $13bn,while Uber’s market capitalisation is $73bn.
Previously in March Sberbank valued Yandex.Taxi joint venture with Uber at $7.5bn, which implies $13.75 per Yandex share, 27% of the target price. The bank expects Yandex.Eats, the food delivery segment of the taxi business to grow between 2018 and 2022 at compounded annual growth rate (CAGR) of 88% and its net revenues at
a CAGR above 100%.
Online media major Rambler considers IPO
Rambler was formed in 2013 as tycoons Alexander Mamut and Vladimir Potanin joined their video assets. The holding includes online and traditional cinemas, anchor portal Rambler.ru, a number of popular internet publications and portals such as Lenta.ru, Gazeta.ru, Afisha, and others. In 2016 Mamut bought out Potanin’s stake for about $295mn.
Rambler's Okko is the second-largest online cinema on the Russian market after ivi. Sberbank will promote subscription to Okko on favourable terms, as well as include subscription to Rambler content in its pilot digital content package.
Russian Market Data Value
1M YTD
Equity Indices
RTSI
1,388
8%
29.8
MOEX
2,780
6%
17.3
MSCI EM
1,055
7%
10.0%
S&P
2,925
3%
18.0%
NASDAQ
7,968
4%
21.0%
DAX
12,271
2%
16.0%
FTSE
7,402
2%
10.0%
Commodities
Price, $
1M YTD
Brent
66.3
-5%
22%
WTI
59.4
2%
31%
Urals
74.2
-4%
65%
Gold
1,410
9%
10%
Silver
15.3
5%
-2%
Nickel
12,660
4%
19%
Copper
5,954
1%
0%
Aluminum
1,781
1%
-5%
FOREX
Value
Russia sectors performance % YTD
1M YTD
EUR/RUB
71.69
0%
-10%
Russia sectors performance % YTD
Oil & Gas Utilities Financials Consumers Telecoms
M&M RTS MOEX
38 28
30
29.8
16
20
17.3
0 10 20 30 40
25
Source: MOEX, BCS GM
source: MOEX, BCS GM
Sectors: % return YTD