MOSCOW, Nov 18 (PRIME) -- Russian marketplace Ozon will offer 30 million American depositary shares (ADSs) in an initial public offering (IPO) on the Nasdaq with a price range of U.S. $22.5–27.5 per share, according to Ozon’s documents seen by PRIME on Wednesday.
“We expect a net income of $693 million, or $798 million from the placement, if the underwriters exercise their option fully for acquisition of additional ADSs and $135 million from an accompanying private placement at a proposed price of public placement of $25 per ADS, the middle of the price range mentioned on the front page of the prospectus, after deduction of the proposed discount for underwriting and our placement costs,” Ozon said.
The organizers will get an option to acquire up to 4.5 million ADSs.
If the shares are sold at the highest price and the option is exercised fully, Ozon’s IPO will amount to $948.75 million.
Ozon’s core owners, multi-industry holding Sistema and funds Baring Vostok will be able to buy the company’s shares or ADSs for $67.5 million each, or $135 million in total.
After the IPO, Sistema, which now owns 45.2%, and funds Baring Vostok, which now own 45.1%, will hold 37.9% each.
Ozon applied for the OZON ticker on the Nasdaq. The company also said it hopes to get an approval to list on the Moscow Exchange, where the trading, however, cannot start earlier than on the Nasdaq.
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