Car-sharing operator Delimobil announced plans to hold an initial public offering on the Moscow Stock Exchange at the end of January or the first half of February 2024. Previously, Forbes sources reported on the possibility of holding an initial public offering (IPO). the next spring.
The bulk of the supply during the public offering is expected to consist of shares issued as part of the additional issue, up to 10% of the company’s current authorized capital.
“Delimobil plans to use the funds raised during the IPO for further business development, debt reduction and general corporate objectives. The agreement will also create liquidity for the shares in the secondary market and increase the recognition of the company among partners and customers,” Delimobil said in a statement.
Previously, the main legal entity of the company, Carsharing Russia LLC, was transformed into a PJSC. In early December 2023, PJSC announced plans to split shares in a ratio of 1 to 16: the authorized capital was to increase from 10 million to 160 million shares and reduce the par value of one security from 0.01 to 0. 000625 rubles. At the same time, the company announced that it was going to issue an additional 48 million shares.
Also earlier, Carsharing Russia approved agreements to attract Gazprombank, BCS and investment bank Sinara to organize a placement on the Moscow Stock Exchange.
This is not Delimobil’s first attempt to put shares on the stock market. At the end of 2021, the company was going to hold an initial public offering on the New York and Moscow stock exchanges, but ultimately postponed these plans.
- “Delimobil” made a net profit in 2023; for the nine months of 2023 it amounted to 1.4 billion rubles, according to the company’s materials. Revenue in the period 2020-2022 increased by 2.4, while in just nine months of 2023 the figure increased by 1.3, to 14.5 billion rubles compared to 2022. EBITDA increased by 1. 7 times, the EBITDA margin amounted to 31%.
- The service was founded in 2015 and operates in Moscow, St. Petersburg, Samara, Togliatti, Nizhny Novgorod, Yekaterinburg, Novosibirsk, Tula, Kazan and Rostov-on-Don. The number of registered users exceeds 9 million people, the company’s fleet includes more than 24.2 thousand cars.
Author:
Anastasia Marina
Source: RB
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