Ozon Holdings, which is leading Russian e-commerce platform, announced terms for its IPO on Tuesday.
The Moscow, Russia-based company plans to raise $750 million by offering 30 million ADSs at a price range of $22.50 to $27.50. Existing shareholders Baring Vostok Capital Partners and Sistema plan to purchase an additional $135 million worth of ADSs in a concurrent private placement. At the midpoint of the proposed range, Ozon Holdings would command a market value of $4.4 billion.
Ozon operates in Russia's e-commerce market, connecting buyers and sellers of a wide selection of products through its online platform. With its nationwide logistics infrastructure, the company served roughly 11.4 million active buyers in the 12 months ended September 30, 2020, with revenue coming through both third-party transaction facilitation and direct-to-consumer sales.
Ozon Holdings was founded in 1998 and booked $1.1 billion in revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol OZON. Morgan Stanley, Goldman Sachs, Citi, UBS Investment Bank, Sberbank, VTB Capital and RenCap Securities are the joint bookrunners on the deal. It is expected to price during the week of November 23, 2020.
