Packaging manufacturer Lambumiz raised 802 million rubles during an initial public offering on the Moscow Stock Exchange on October 29. This is stated in the company’s message to the Corporate Information Dissemination Center.
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“As part of the IPO, the company attracted several large private professional investors and major institutional investors, as well as more than five hundred retail investors,” the statement read.
In the first minute of trading on the Moscow Stock Exchange on October 30, Lambumiz shares with the symbol LMBZ at their peak increased by 11.38% to 473.4 rubles compared to the offer price. At 18:26 Moscow time, the price of the securities was 425.2 rubles.
The manufacturer of packaging for milk and dairy products Lambumiz made an offer on October 29 at the lower end of the price range – 425 rubles. This corresponds to the company’s market capitalization of approximately 8.8 billion rubles, taking into account the money raised during the IPO.
Lambumiz has announced plans to host the placement in May. In July, the company’s shareholders approved the initiative, and in October the manufacturer announced the IPO price range of 425 to 460 rubles per share. The money will be used to “implement a long-term development strategy,” the company said.
According to its data, Lambumiz is the leader in the Russian market for non-aseptic carton packaging for milk and dairy products. In 2023, Lambumiz PJSC’s revenue amounted to 2.6 billion rubles, and net profit – 313 million rubles, according to Rusprofile data.
Author:
Bogdan Muzychenko
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.
