The Strategist

Russia's largest online retailer sets to raise $1B during IPO at NASDAQ

11/18/2020 - 02:57

One of the largest and oldest retailers of the Russian segment of the Internet, Ozon, is going to raise up to $1 billion in an IPO at the US NASDAQ amidst tremendous investor interest. Value of the entire company could reach $5.6 billion, the Financial Times learned.

Smart Vombat
Smart Vombat
Russia's oldest online retailer Ozon plans to raise $750 million to $1 billion in an IPO on the NASDAQ exchange, and the valuation of the entire company will range from $4.6 billion to $5.6 billion, the Financial Times told, citing sources familiar with the preparation of the placement. 

Earlier it was reported that Ozon may attract up to $500 million during the IPO: this estimate was given, in particular, by the US analytical company Renaissance Capital. According to the Financial Times, the forecast of raised funds increased due to high demand. 

Earlier Forbes sources also said that the forthcoming placement of Ozon has caused enormous interest among investors, and one investment bank among the organizers admitted that the company may attract $750 million or more.

Goldman Sachs appraised the company at $6-12 billion, two sources familiar with the appraisal told Forbes. There are three investment banks acting as underwriters for the IPO. Forbes sources said that the collection of IPO applications may begin on 18 November and will run until 24 November, and 25 November may be the first day of trading.