Aerospace holding SR Space enters pre-IPO on the new OTC platform of the Moscow Stock Exchange

As reported by the press service of the holding company, as part of the additional issue of 10% of the shares, an over-the-counter placement in the form of a closed subscription is planned at a cost of 2,750 rubles per ordinary share.

“The start date of collecting applications is July 19, 2024, ISIN – RU000A108W39, symbol SRSP, the total volume collected is 1.528 billion rubles,” the press service of the holding company said.

They added that the placement is aimed at qualified investors. According to the founder and CEO of SR Space, Oleg Mansurov, the company plans to grow to a public listing in three to four years. Thus, SR Space wants to offer investors in the pre-IPO round a maximum return of at least six times.

Mansurov also admitted that secondary trading of shares on the Moscow Exchange’s OTC market will begin in the first half of 2025.

Funds raised during the pre-IPO stage will create the leverage needed to attract up to 4x debt capital at a low interest rate.

Thanks to all this, SR Space intends to establish production facilities, build ground infrastructure and complete R&D and testing of key solutions. It is also planned to build satellite constellations based on the Cubesat standard.

Last week it was reported that SR Space intends to hold the first Pre-IPO on the new platform of the Moscow Stock Exchange. Then the media wrote about the intention to raise about 1.5 billion rubles.