Kifa B2B platform, specialising in digital trade between Russia and China, is to hold an initial public offering on the Moscow Stock Exchange. The company expects the shares to begin trading in late summer.
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B2B platform “Kifa” for trade between Russia and China to hold IPO on Moscow Stock Exchange
As follows from the press release published on the company’s website, the IPO will be conducted in cash-in format. This means that the raised funding will remain in equity. Investors will be offered shares issued as part of the additional issue.
The minimum application volume for investors will be 10 thousand rubles. The funds received will be used for the investment program.
“KIFA has an active investment program worth 1.7 billion rubles and the company intends to use all funds raised during the IPO to finance it,” the company explained.
Vedomosti wrote about Kifa’s plans to enter the Moscow Stock Exchange in April 2024, and this week the intention was confirmed by the company’s founder and president, Sun Tianshu.
According to him, Kifa does not expect to attract much funding; the main goal of the IPO is to increase recognition and fix the value.
Kifa specializes in wholesale trade of consumer goods between the Russian Federation and China. The platform allows you to directly connect the supplier and the buyer.
At the end of the first quarter of the year, the company increased its revenue to 1.3 billion rubles, which is 54% more than last year. Net profit for the specified period reached 4 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.
