MOSCOW, Nov 19 (PRIME) -- Russian car sharing company Delimobil has delayed its initial public offering (IPO) till 2022, General Director Yelena Bekhtina said on Friday at an online conference.
“Everything is all right with our IPO. We’ve moved it to 2022 because of the market situation,” Bekhtina said.
“I think that it is not a secret for anyone, if we look at the analytical researches on the current market, the IPO market is at a very active stage. It’s truly overheated. This is why these are not the most favorable market conditions.”
Delimobil said in October it will offer 20 million American depositary shares (ADS), each equaling two ordinary shares, on the New York Stock Exchange with secondary listing on the Moscow Exchange. Organizers of the deal were supposed to have an option of 3 million ADSs. The company planned to raise U.S. $200–240 million or $230–276 million under the option.
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