World

Astra Group plans to hold an IPO


The manufacturer of secure infrastructure software Astra announced plans to conduct an initial public offering (IPO) of shares on the Moscow Exchange in October 2023. This was reported by the company’s press service.

“Our team is convinced that the company’s IPO on the Moscow Exchange <...> will allow us to draw even greater investor attention to the Russian IT market, which has enormous growth potential,” said Ilya Sivtsev, CEO of the Astra group of companies.

The company noted that this will be the first IPO among Russian infrastructure software developers. Astra plans to sell 5% of its shares on the Moscow Exchange; current shareholders will retain a majority stake. The company did not provide any other details of the placement.

According to IFRS reporting data, at the end of the first half of 2023, Astra’s revenue amounted to 3.11 billion rubles, which is more than three times higher than the figures for the first half of 2022, when the company’s revenue amounted to 1.009 billion rubles. Net profit for the first six months of this year amounted to 1.163 billion rubles. versus RUB 0.497 billion last year.

In March 2023, Natalya Loginova, director of the department for work with issuers of the trading platform reportedthat in 2023 about ten companies may hold an IPO on the Moscow Exchange. According to her, IPOs can be held by issuers from the “new economy” – fintech companies, retailers. Those who need capital for rapid growth, she clarified.

https://myboxingnews.com

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button