The initial public offering of the developer of the corporate communications ecosystem IVA Technologies was made at the upper limit of the price range – 300 rubles per share. The technology company managed to raise 3.3 billion rubles, taking into account the stabilization package. The market capitalization of IVA Technologies will be 30 billion rubles.
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According to the company, there was significant demand from investors, which far exceeded supply.
IVA Technologies, as previously announced, submitted an offer of 11 million shares, the free float share was 11%. The majority of the company’s shares remain in the hands of shareholders. Trading on the Moscow Stock Exchange will begin on June 4 at 15:00 Moscow time.
According to Vedomosti, investor demand has far exceeded supply. The application book was renewed six times, the publication’s source said.
Allocation to private investors accounted for 28% of the total offering. Each participant in the placement received at least four, but no more than 73,300 shares. The allocation to institutional investors amounted to 47%.
IVA Technologies announced plans for an IPO last month. The company’s products include IVA Connect, IVA MCU video conferencing platform, VKurse cloud video conferencing platform, and IVA GPT AI business assistant.
The share of VAT in the video conferencing segment is estimated at 24%.
At the end of 2023, the company made a net profit of 1.8 billion rubles, 75% more than the result in 2022. Revenue increased by 77% to 2.5 billion rubles.
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.
