Secure infrastructure software maker Astra Group has confirmed its intention to conduct an initial public offering (IPO) in the fourth quarter of this year. The initial public offering of shares on the Moscow Stock Exchange is planned for October, the company said on its website.
“It is expected that, based on the results of the IPO, the proportion of the group’s shares in free float will be approximately 5%. The shares will be offered by existing shareholders,” the company said in a statement.
He added that shareholders will retain a majority stake.
Previously, market representatives said that Astra wants to list up to 10% of its shares on the Moscow Stock Exchange.
According to the company’s CEO Ilya Sivtsev, the Russian IT market has huge potential and the placement of shares will attract more investors to the sector.
The press service noted that this will be the first IPO among Russian infrastructure software developers.
The manufacturer’s revenue for the first half of the year amounted to 3.11 billion rubles, three times more than the results for the same period in 2022. Net profit is estimated at 1,163 million rubles, up from 497 million rubles from last year.
In August, the Astra Group received 26% of the GitFlic platform developer Resolut.
Author:
Natalia Gormaleva
Source: RB
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