The APRI developer’s app book was oversubscribed at the upper limit of the price range – 9.7 rubles per share. The company can raise up to 1 billion rubles during the IPO. The start of trading on the Moscow Exchange is scheduled for July 30.
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APRI announced its IPO in early July. The shares offered to investors were issued as part of an additional issue. The proportion of free float shares will be 5-10%.
The developer plans to raise between 500 and 1 billion rubles. The price range was set at 8.8 and 9.7 rubles per share. The shares were admitted to trading on July 30 under the ticker symbol APRI.
The application book for the IPO was oversubscribed at the upper limit of the range, IPO organizer, Ivolga Capital managing director Dmitry Alexandrov, told RBC Investments.
The oversubscription was recorded at the minimum placement volume, which was set at 5%. The company is now making a decision on the final volume of the additional issue. The application period will be extended until July 29.
As Alexandrov explained, the developer gives preference to private investors when allocating shares. The entire allocation is planned for individuals. In case of oversubscription, part of it will come from institutional investors.
APRI has been operating since 2014 and is now the largest construction company in the Chelyabinsk region. In 2023, the developer received 1.79 billion rubles of net profit, which is 2.5 times more than the results for 2023. APRI also increased its revenue by 4.5 times, up to 6.64 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.
