CEO: Sistema not to sell Ozon shares so far, believes in growth

MOSCOW, Dec 4 (PRIME) -- Russian multi-industry holding Sistema will not sell its 33.1% stake in marketplace Ozon and believes in their growth, President Vladimir Chirakhov said late on Thursday during a conference call.

“The lock-up bans us from selling our stake in Ozon for six months. Once they expire, I don’t think we’ll sell Ozon shares, because we believe they’ll rise in price. Perhaps, it will happen in the next few years, but we have no such plans so far,” Chirakhov said.

The news boosted Ozon’s quotes on the Moscow Exchange by 5.82% to 3,825 rubles as of 11 a.m. local time on Friday.

Mainly owned by Sistema and Baring Vostok’s funds, Ozon floated 33 million American depositary shares at U.S. $30 apiece.

(75.1996 rubles – U.S. $1)

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