Cloud provider Selectel has completed the transformation of its business from a JSC into an LLC, as follows from the Unified State Register of Legal Entities. The changes are reflected in the register since July 8; the authorized capital of Selectel JSC is 130 million rubles.
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The decision was made to transform the company into a joint-stock company called Selectel in 2023. Last August, it was announced that the authorized capital of the new joint-stock company would consist of 520 million ordinary shares of 0.25 rubles each with a par value of 0.25 rubles.
In May 2024, the co-owners of the company formed a board of directors; as of the date of registration of the joint-stock company, it includes the former head of Megafon and founder of the Tier 5 investment fund Gevork Vermishyan, the founder of the company, Vladimir Dergachev, Deputy General Director for Operational Activities, Oleg Lyubimov, General Director of Selectel, as well as representatives of LVL1 Management Ltd Andrey Lisyansky and Andrey Golukhov.
In 2023, the media wrote that the company was targeting an IPO. In 2024, Selectel announced that a Russian site would be selected for a possible IPO.
According to the results of the first quarter of 2024, the company increased its net profit year-on-year by 1.5 times – according to the results of the first three months, it amounted to 900 million rubles. Adjusted EBITDA increased by 25% to 1.7 billion rubles. The adjusted EBITDA margin was 58%.
In 2023, the company was able to double its net profit. According to IFRS, it amounted to 2.8 billion rubles. Revenue increased by 26% to 10.2 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.
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