Softline plans to apply to the Moscow Stock Exchange for a listing of shares, according to the company’s website. Transactions should start in September, Softline expects.
Before the start of trading, liquidations must be completed within the exchange. For him, the shares will be provided by the largest shareholder of the company: Atalaya LLC.
The percentage of shares in free float at the start of trading will be from 10.7% to 16.6%.
It is clarified that the free float will include those that the holders of Noventiq’s certificates of deposit will receive as part of the exchange, as well as the values that the company’s employees will receive as long-term motivation.
Last fall, Softline’s Russian division withdrew from the global corporation. The division of the business was carried out by selling SLR to Igor Borovikov for $1 and diluting his and SGI Limited’s share in the company.
In the same period, sources told Reuters that the spun-off division of Softline will hold an initial public offering on the Moscow Stock Exchange in the third quarter of 2023.
In April, Softline founder Igor Borovikov announced his decision to withdraw from shareholders.
Author:
Natalia Gormaleva
Source: RB
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