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GRQ - Don Agro International News Story

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Last Trade - 08/04/21

Sector
Consumer Defensives
Size
Micro Cap
Market Cap £31.0m
Enterprise Value £30.0m
Revenue £16.9m
Position in Universe 4938th / 6093

FACTBOX-Russian IPOs in times of crisis

Tue 24th November, 2020 12:17pm
(Adds details on planned Ozon debut, Samolet IPO)
    Nov 24 (Reuters) - Russian online retailer Ozon has raised
nearly $1 billion in a U.S. initial public offering (IPO) to
capitalise on an e-commerce boom in Russia amid the coronavirus
pandemic. urn:newsml:reuters.com:*:nL4N2I42GE  urn:newsml:reuters.com:*:nL8N2IA1BT  
    Ozon's offering marks a third debut of a Russian company
this year, as a once lucrative market for investment bankers due
to the high fees is struggling to recover from the lull caused
by pandemic and concerns over further potential Western
sanctions against Moscow.  urn:newsml:reuters.com:*:nL8N2GB1O8  urn:newsml:reuters.com:*:nP6N28905W
    
Below follows an overview of recent major market debuts of
Russian companies:
    
    * Two Russian companies went public so far this year, with
Sovcomflot's  FLOT.MM  $550 million IPO marking the first major
stock exchange flotation in Moscow in three years.  urn:newsml:reuters.com:*:nL8N2GY1I2 
    * Apart from Sovcomflot, other IPOs in 2019-2020 were
Samolet  SMLT.MM  (Moscow Exchange; $3.74 million), Headhunter
 HHR.O  (Nasdaq; $220 million), Kismet Acquisition One Corp
 KSMTU.O  (Nasdaq; $250 million), Don Agro  DONA.SI  (Singapore;
$3.6 million) and Gemabank  GEMA.MM  (Moscow Exchange; $2.4
million). 
    * Headhunter's 2019 debut was the first IPO of a Russian
company in the United States since Washington began imposing
sanctions on Moscow in 2014.
    * The year 2018 was the first in a decade without a single
Russian IPO. The year before Russian companies raised about $3
billion from IPOs, including Oleg Deripaska's En+  ENPLq.L 
listing in London and Moscow, according to Reuters data.
    * Sixteen Russian companies have carried out IPOs since
2015, compared with 43 deals between 2008 and 2014.
    * Before the 2008 financial crisis, 74 IPOs were held
between 2005 and 2007.
    * Four of the 16 IPOs since 2015 were held outside Russia –
in London, New York and Singapore.
    * In the period between 2005 and 2014, 37 IPOs were carried
out in Moscow and 67 in London.
    * The biggest Russian IPO to date was a $10.7 billion float
by oil major Rosneft in London  ROSNq.L  and Moscow  ROSN.MM  in
2006, followed by an $8 billion offering of state-run VTB Bank
 VTBR.MM  in 2007.
    * Money raised by Russian companies via IPOs after 2014 has
also slumped, with the $1.5 billion IPO of En+ being the biggest
float since 2014.

 (Compiled by Olga Beskrovnova; Editing by Sherry Jacob-Phillips
and David Evans)
 ((olga.beskrovnova@tr.com))
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