The developer of the Astra Linux operating system announced the price range for its initial public offering on the Moscow Stock Exchange

Earlier this month, the developer announced plans to hold an initial public offering on the Moscow Stock Exchange in October. This will be the first IPO among Russian infrastructure software developers.

“As part of the IPO, existing shareholders will offer up to 10.5 million shares (corresponding to 5% of the number of issued and outstanding shares), of which approximately 10% can be used to stabilize the share price in secondary trading for a period of up to 30 days after the start of trading,” the company said in a statement.

The price of the IPO will be set by the selling shareholders based on the results of the collection of applications, which will take place from October 5 to 12. On October 13, the Moscow Stock Exchange will list the company’s shares at the second level of trading. After this, stock trading will begin under the symbol ASTR.

According to the company’s CEO Ilya Sivtsev, most investors showed interest in the group’s decision to conduct an IPO because they see the competitive advantages of the promoter.

The company’s general director noted that the trend towards import substitution and the departure of Western suppliers from the Russian market, as well as government support, will contribute to the company’s growth in the medium and long term.

The day before, Astra Group announced the acquisition of 70.2% of Knomary, a developer of platforms for the automation of training and development processes. According to CEO Ilya Sivtsev, investments in a solutions provider in the field of training and development are part of the group’s mergers and acquisitions strategy.