Softline confirms plan to hold IPO in London, Moscow

MOSCOW, Oct 7 (PRIME) -- Russian IT solutions supplier Softline has confirmed an intention to hold an initial public offering (IPO) on the London Stock Exchange (LSE) and the Moscow Exchange in two components, the company said on Thursday in a statement.

“Softline confirms its intention to apply for including global depositary receipts (GDR) in the segment of the standard listing of the official register of the Financial Conduct Authority (FCA) of the U.K. and admittance of the GDRs to trading on the main floor of securities of the London Stock Exchange and the Moscow Exchange,” the company said.

The listing on the LSE may open in October.

Softline will offer new and issued shares to raise about U.S. $400 million from the first component and plans to use the money to finance further development and implementation of the growth strategy.

The selling shareholders include Softline Group, whose beneficiary owner is Igor Borovikov; Da Vinci Private Equity Fund II L.P.; Investment Partnership Da Vinci Pre-IPO Fund; and Zubr Capital Fund I LP.

End