Page 2 - bne_newspaper_May_17_2019

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May 17, 2019 www.intellinews.com I Page 2
HeadHunter becomes first Russian company to IPO on NASDAQ since 2013
announced deals including Polyus Gold which raised $390mn from a placement.
However, the SPO by meat major Cherkizovo has failed, as reported by bne IntelliNews, while rail operator RusTransCom that announced IPO plans later called off the offering.
HeadHunter, however, enjoyed high demand, with the book for the IPO oversubscribed more than 10-fold, according to Kommersant daily.
The shares of HeadHunter were sold by Highworld Investments (59.99% of the shares), ELQ Inves- tors VIII (investment division of Goldman Sachs Group, holds 40%), selling 9.8mn and 6.5mn of ADRs (American Depository Receipts) and raising $132mn and $88mn from the IPO, respectively.
Kommersant also reported that 9% of the IPO proceeds will be received by Ivan Tavrin's struc- tures. Reportedly Tavrin, the ex-CEO of MegaFon mobile major and ex-board member of internet major Mail.ru, is entitled to 9% of any revenues of Highworld and ELQ since selling the shares in HeadHunter to them in 2016.
HeadHunter is the leader in the online recruitment segment in Russia with over 50% market share as well as in several neighbouring Russian-speaking countries. In 2018 the classifieds market grew by 28% to RUB10.3bn, according to J'Son & Partners estimates cited by Vedomosti daily.
The start-up was founded in 2000 under the name ‘National Job Club’. Starting from 2007, Yuri Milner’s Digital Sky Technologies (which later be- came Mail.Ru Group) bought stakes in HeadHunt- er, but Mail.Ru Group sold the company in 2016.
Russian Market Data Value
1M YTD
Equity Indices
RTSI
1,261
0%
17.9
MOEX
2,581
1%
8.9
MSCI EM
1,011
-8%
5.0%
S&P
2,876
-1%
16.0%
NASDAQ
7,898
-1%
20.0%
DAX
12,310
2%
17.0%
FTSE
7,354
-2%
9.0%
Commodities
Price, $
1M YTD
Brent
72.8
1%
34%
WTI
62.9
-2%
38%
Urals
74.2
-4%
65%
Gold
1,287
1%
0%
Silver
14.6
-3%
-6%
Nickel
12,215
-6%
15%
Copper
6,090
-6%
2%
Aluminum
1,831
0%
-2%
FOREX
Value
Russia sectors performance % YTD
1M YTD
EUR/RUB
72.2
0%
-9%
Russia sectors performance % YTD
Oil & Gas Utilities Financials Consumers Telecoms
M&M RTS MOEX
12
16
17
17.9
20 18
5
8.9
0 5 10 15 20 25
Source: MOEX, BCS GM
source: MOEX, BCS GM
Sectors: % return YTD