Housing booking service Sutochno.ru plans to hold an initial public offering in 2025, which will give “an additional boost to the business.” This was told to RBC by the founder and general director of the company, Yuri Kuznetsov.
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“This is a logical step for any fast-growing technology company. Sutochno.ru is fully ready to enter the stock exchange in terms of established internal processes, operational and corporate management. But we are carefully watching the market: favorable conditions should emerge on the stock market,” Kuznetsov said.
He noted that the IPO will provide “an additional boost to the business” and help the company implement “best management practices” and “strategic decision-making.” “In addition, liquid shares are an opportunity to motivate key employees and strengthen the company’s brand and reputation. This is important in our market,” added Kuznetsov.
In October 2024, the pre-IPO funds of the company VIM Investments received 16.03% of the capital of Sutochno.ru, the remaining 83.97% belonged to Kuznetsov. Now information about the company’s shareholders is hidden, as follows from the extract from the Unified State Register of Legal Entities.
The founder of the housing reservation service did not disclose the amount of the transaction with VIM Investments. A Forbes source on the TravelTech market estimated it at 1.5-2 billion rubles. Kuznetsov noted that VIM Investments was attracted to the company as a financial investor that participates “in the formation of best corporate governance practices through its participation in the board of directors.”
Sutochno.ru was founded in 2011 in Ulyanovsk. The service’s website states that it allows you to book accommodation for tourist and business trips in all regions of Russia, as well as in other countries, including Belarus, Kazakhstan, Georgia and Armenia.
According to SPARK-Interfax, in 2023 the revenue of Sutochno.ru JSC (the main legal entity of the service) amounted to 3.12 billion rubles, 1.8 times more than in 2022 (1.71 billion rubles). The company’s net profit in 2023 increased fivefold to 464.4 million rubles, compared to 87.2 million rubles last year.
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.
