Car-sharing operator Delimobil increased the size of its planned initial public offering to 4.2 billion rubles. The reason was increased demand from investors, according to a statement on the company’s website.
The company noted that they are seeing increased demand during the collection of applications from institutional investors.
“The Company decided to increase the size of the Offer to 4.2 billion rubles, including Shares that make up the volume of possible stabilization in the amount of up to 15% of the size of the Offer,” the statement says.
According to Elena Bejtina, CEO of Delimobil, the investor activity indicates the company’s effective business model, as well as the prospects for potentially high growth.
Previously, Delimobil had planned that the base size of the IPO would not exceed 3 billion rubles. In addition, a stabilization mechanism of up to 15% (450 million rubles) may be used during the proposal.
On January 29, the company set the price range for the IPO between 245 and 265 rubles per share, corresponding to an estimate of between 39.2 and 42.4 billion rubles. Trading in securities on the Moscow Stock Exchange will begin on February 7.
Author:
Natalia Gormaleva
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.
