Skyeng plans to hold an initial public offering on the Moscow Stock Exchange in the first quarter of 2024. The company may place 10% to 15% of its shares on the stock exchange.
During the placement, Skyeng intends to raise 3-5 billion rubles. The money will be used to develop the business, two senior managers of a large educational technology company told Vedomosti.
According to analysts, the total value of Skyeng for its IPO could amount to 40-50 billion rubles. In January-September 2023, the company’s revenue increased by 23% to 9.3 billion rubles.
Skyeng is owned by Khariton Matveev (61%) and Vimbox Limited (39%). One of the co-owners of the Cypriot Vimbox is Baring Vostok. Skyeng co-founder Georgy Soloviev owns 18.5%. Alexander Laryanovsky also owns 4.2% of Vimbox.
In June 2023, the school’s co-founder, Denis Smetnev, left the operational management of the company. There he served as commercial director and was responsible for the international development of the service. He remains a shareholder in the school but will focus on developing marketing agency uForce.
Author:
Karina Pardaeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
