Page 107 - RusRPTNov23

moratorium on new investment in Belarus following the country's controversial 2020 elections.
Russia’s second-largest e-commerce major Ozon Holdings notified Nasdaq of its intention to delist its American depositary shares (ADSs), Reuters and Kommersant daily report. Ozon raised almost $1bn on Nasdaq in late 2020, but the trading in its shares has been suspended since Russia’s full-scale military invasion of Ukraine. "We have no reason to believe that trading of Ozon's ADSs on Nasdaq will resume. This step is aimed at reducing costs associated with providing reports to the US Securities and Exchange Commission's standards," the company added. Ozon appealed twice unsuccessfully against the delisting, and has floated its ADS on Kazakhstan's Astana International Exchange (AIX) in July.
Russian men's fashion chain Henderson confirmed previous reports on planned Moscow Exchange (MOEX) initial public offering (IPO) in November 2023, Reuters reports. Henderson did not provide a valuation of placement price guidance, but unnamed sources told Reuters that that valuation of RUB25bn-RUB27bn is considered. New shares are expected to make most of the offer with free float of over 10% after the IPO. "(Henderson) is positioned in the 'affordable luxury' segment, where global brands that have left the Russian market previously occupied a high share," said Alfa Bank analysts cited by Reuters, adding that the retailer could “likely show the highest revenue growth rates among public companies in Russia's consumer sector over the next three to five years”.
One of Russia’s largest jewellery sellers Sunlight plans to hold an initial public offering (IPO) in the future, Prime reports citing CEO Dmitry Lazarev’s announcement on the Telegram channel Gazprombank Investments. "One of our goals is to become a public company, this is why we are borrowing money now through bonds and we are preparing for a potential IPO... We are planning it," the CEO said, without elabourating on terms and timing of the possible offer. As followed by bne IntelliNews, the Moscow Exchange prepares to see dozens of small initial public offerings (IPOs) in 2024.
Astra Group announced the price range for the IPO of ordinary shares,
the placement of which will take place on the Moscow Exchange, follows from the company's message. The indicative IPO price range is set at RUB 300 to RUB 333. per share, which corresponds to the company’s market capitalization in the range of RUB 63.0–69.9bn.
The IPO will offer up to 10.5mn shares, 5% of the number issued and outstanding by existing shareholders, of which about 10% can be used to stabilise the share price in secondary trading for up to 30 days after the start of trading. The IPO price will be set by the selling shareholders at the end of the application collection period, which will run from October 5 to October 12.
107 RUSSIA Country Report November 2023 www.intellinews.com