Russian microelectronics manufacturer Element intends to hold an initial public offering at the end of 2024. The company hopes to raise 10-15 billion rubles to develop a large investment program, writes Vedomosti.
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Element has not published financial indicators since 2020. At that time, the company’s revenue according to RAS was 5.7 billion rubles and its net profit was 257 million rubles.
If the company’s expectations are met, Element’s listing on the stock exchange could become the largest in the Russian technology sector in recent years, the publication notes.
Element appeared in 2019 on the basis of the assets of AFK Sistema and Rostec (shares are not disclosed). The company brings together about 20 microelectronics manufacturers and developers, including the Mikron plant. According to its own data, it is the only full-cycle manufacturer in the Russian Federation of a wide range of RFID tags for mass product groups.
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.
