Car dealership Rolf planned IPO in 2025-2026

“Strategy [компании] involves significant investments in the development of an ecosystem of services. The IPO will allow the company to systematically implement its growth strategy and demonstrate the transparency and sustainability of the business,” the filing says.

According to Svetlana Vinogradova, first deputy CEO of Rolf, the company will wait until a “successful window” to make an initial offer. He did not provide further details about the planned initial public offering.

Previously, the new owner of the car dealership, Umar Kremlev, told Forbes that the company plans to launch a car under its own brand. He clarified that he himself allocated funds for the production of the machine and that partners from China provide advice on the project. Assembly is planned to take place at the holding’s production base in Serpukhov.

The Kremlin’s decision was commented on by Rolf founder Sergei Petrov in a conversation with Forbes. He wished the businessman good luck.

Petrov added that he no longer has a direct relationship with Rolf, but treats the company “as his brainchild.”

In 2019, Petrov was included in the international list of wanted persons in the case of illegal transfer of 4 billion rubles abroad.

In December 2023, Vladimir Putin signed a decree transferring Rolf’s shares to the temporary management of the Federal Property Management Agency. Petrov called this “legal anarchy” and “a shot in the foot.”

In February 2024, the merchant’s assets were recovered in favor of the state, and in September the Kremlin, which now also chairs the International Boxing Association, became the new owner of the company.