Car-sharing firm Delimobil delays IPO due to market climate

MOSCOW, Nov 8 (PRIME) -- Russian car-sharing company Delimobil has delayed its initial public offering (IPO), its spokesperson told PRIME on November 4.

“Regardless of high interest from investors, Delimobil has decided to postpone the IPO dates due to the market conditions,” the spokesperson said.

A market source said the IPO was delayed till the beginning of 2022.

Delimobil said in October it would 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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