Delimobil IPO: Russian Car-Sharing Giant Plans Up to 10% Stake Sale
Key Points
*- Russian car-sharing company Delimobil plans to sell up to a 10% stake in an initial public offering (IPO).
- Delimobil has filed to raise $220 million in the IPO of its American Depositary Shares.
- The IPO would make Delimobil the first Russian company to hold a long-awaited initial public offering.
- Delimobil reported an 89% jump in revenue in 2021.
Overview
Delimobil, Russia's largest car-sharing provider, is planning to sell up to a 10% stake to investors in a pre-IPO round, the company said on Tuesday. The company has filed to raise $220 million in an IPO of its American Depositary Shares (ADSs). The IPO would make Delimobil the first Russian company to hold a long-awaited initial public offering since the start of the war in Ukraine.
In 2021, Delimobil reported an 89% jump in revenue to 42 billion roubles ($464 million), driven by strong demand for its car-sharing services.
The company's IPO is being underwritten by Gazprombank BCS and Sinara. The IPO is expected to be completed in the first half of 2023.
Why is Delimobil Going Public?
Delimobil is going public to raise capital to fund its expansion plans. The company plans to use the proceeds from the IPO to invest in new markets, develop new technologies, and expand its fleet of vehicles.
The IPO will also give Delimobil access to the public markets, which will allow the company to raise capital more easily in the future.
What is the Outlook for Delimobil?
The outlook for Delimobil is positive. The company is the leader in the Russian car-sharing market, and it has a strong track record of growth. The company is also well-positioned to benefit from the growing demand for car-sharing services in Russia.
The IPO is a major milestone for Delimobil, and it is expected to help the company accelerate its growth plans.
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