Crowdlending platform JetLend postpones its IPO until early 2025

“The company approaches its initial public offering and chooses the moment very carefully, so starting a series of processes takes a little longer than expected,” Khoroshev said in response to the newspaper’s question about the reasons for postponing the IPO. IPO.

The CEO of JetLend noted that the platform does not stop the process of preparing for the IPO “due to external conditions”: the company demonstrates a high level of resistance to market factors and continues to grow.

JetLend will maintain the previously announced placement parameters, but “is actively monitoring the market and is ready for changes,” Khoroshev emphasized. In July he reported that on the eve of the IPO the company was valued between 8 and 12 billion rubles.

During the placement, the platform plans to raise at least 1 billion rubles, the company is ready to place about 10% of the shares. The platform was going to use the money raised for business growth and marketing.

JetLend first announced plans to hold an IPO in December 2023. At the same time, Forbes interlocutors said that the capitalization of the platform could range from 11 billion rubles to 20 billion rubles.

The crowdlending platform was founded in 2018 by people from Sberbank, Roman Khoroshev, Evgeniy Uskov and Mikhail Nikultsev. According to Rusprofile, in 2023 Jetland LLC’s revenue increased to 595 million rubles compared to 162 million rubles in 2022. The company’s net profit at the end of last year amounted to 23 million rubles.