Russia’s Delimobil targets over $900 mln valuation in U.S. IPO
Oct 25 (Reuters) – Russian car-sharing firm Delimobil Holding S.A. mentioned on Monday it could look to lift as a lot as $240 million in a U.S. preliminary public providing at a valuation of greater than $900 million.
The firm plans to promote 20 million American Depositary Shares (ADSs) priced between $10 and $12 apiece. Each ADS represents two peculiar shares.
Delimobil was based in 2015 and is one in every of Russia’s largest car-sharing suppliers with a fleet of over 18,000 automobiles in 11 cities. It first introduced IPO plans in 2019.
A clutch of corporations from the nation has gone public this 12 months, clocking the quickest flurry in Russian stock-market listings below the sanctions period that started after Russia annexed Crimea in 2014.
UBS predicted earlier this 12 months that Russian itemizing volumes might hit $10 billion this 12 months.
Delimobil’s income rose to 4.93 billion roubles ($70.65 million) within the six months ended June 30, from 2.25 billion roubles a 12 months earlier.
It expects to listing on the New York Stock Exchange below the ticker image “DMOB”.
BofA Securities, Citigroup and VTB Capital are the lead underwriters for the providing.
($1 = 69.7712 roubles)