Official: Positive Technologies to go public via technical listing

MOSCOW, Nov 15 (PRIME) -- Russian cybersecurity company Positive Technologies will go public in the technical listing regime to sell shares to 40,000–50,000 individual investors, Yuri Maximov, chairman of the board of directors, said on Monday at conference The Standoff 2021.

“We’ll come to the bourse in a special way. We need individual investors, the funds are more conservative…We have many buyers, we hope to have about 40,000–50,000 buyers,” Maximov said, adding that the company’s capitalization has soared by 140 times over the recent 10 years.

The company has many sellers of the shares. “We’re going public now with the shares in the hands of 1,500 people…At hour X, our shareholders come to the bourse and start selling the shares,” he said.

Technically, it will not be an initial public offering, but direct listing of the shares the company already has, General Director Denis Baranov said.

Positive Technologies’ shareholders are its current and former employees.

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