IVA Technologies, developer of the corporate communications ecosystem, has announced its IPO price range. It is set between 280 and 300 rubles per share, the company reported.
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During the IPO, IVA Technologies will list 11 million securities, which corresponds to 11% of the share capital. According to preliminary data, the company’s valuation is 28-30 billion rubles. Experts had previously estimated 35-40 billion rubles.
The funds obtained from the sale of 1 million securities (about 3 billion rubles) will be used to stabilize quotes at the auction within 30 days from the start.
The collection of investor applications begins on May 29 and will continue until June 3. Trading on the Moscow Stock Exchange is expected to begin on June 4. The securities will be traded with the ticker IVAT and ISIN RU000A108GD8. They will be included in the second list of quotes.
IVA Technologies announced plans for an initial public offering on May 24. The offer will be underwritten by existing shareholders. At the same time, under the incentive programme, approximately 0.9% of the share capital or 850,000 shares were transferred to the promoters. These shares will not be offered as part of the IPO.
According to the company’s calculations, the allocation of employees and partners to the IPO will not exceed 25% of the amount of the operation. The company will distribute another 75% among market and institutional investors. Investors who submit more than five applications will not be eligible to receive an allocation.
Author:
Natalia Gormaleva
Source: RB
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