Zoom’s Russian analogue, IVA Technologies, plans to hold an initial public offering in June 2024 and raise 3-4 billion rubles. The agreement will be carried out in a cash-out format, Vedomosti reports citing sources.

Video conferencing service developer IVA Technologies plans to raise 4 billion rubles during IPO

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At the end of March it was reported that the company could go public in the second or third quarter of the year with a valuation of between 35 billion and 40 billion rubles.

The publication’s interlocutor agrees with the assessment and considers it fair. According to him, if a discount appears during the negotiations, it will be “moderate.”

In addition, he added that IVA Technologies continues the thread of “import substitution of information technology” on the stock market: following the cybersecurity represented by Positive Technologies, the developer of the Astra operating systems and the software provider Diasoft.

IVA Technologies is a leading developer of the IVA corporate communications ecosystem, which includes a corporate messenger, video conferencing platform, cloud video conferencing platform, AI-based business assistant, etc.

In 2023, the company’s IFRS revenue increased by 77% year-on-year to 2.5 billion rubles, mainly due to increased sales of ecosystem products and additional services. Net profit increased by 74% to 1.8 billion rubles.

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Karina Pardaeva

Source: RB

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