IT firm IBS to hold IPO on Moscow Exchange

MOSCOW, Apr 4 (PRIME) -- Russia’s IBS, one of the country’s leading IT services providers, will hold an initial public offering (IPO) on the Moscow Exchange, the company said on Wednesday in a statement.

Free float will reach 30–35% of the company’s increased capital after the IPO. The shares will be added to the sector of the innovation and investment market.

The new shares will account for more than 50% of the volume on offer.

IBS will invest the raised money in strengthening and expansion of its services via organic growth, as well as mergers and acquisitions.

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