Ozon IPO

RUSSIA / FSU POLITICS - In Brief 03 Oct 2020 by Alex Teddy
On October 2 Ozon said it wanted to list on the US stock exchange. The company has experienced phenomenal growth. E commerce has burgeoned since coronavirus started. A draft registration has been sent to the Securities and Exchange Commission. There will be an IPO of ordinary shares. The number of shares and their prices has not been decided yet. The SEC will complete its review first. Ozon was founded in 1998 as an online bookstore. The IPO is estimated to have a value of USD 3-5 billion. Ozon grew 100% in Q1 and 200% in Q2. Its major sharing holders are Baring Vostok Capital and AFK Sistema.Russia's economy is performing poorly. E commerce is one of the few major growth areas. Sberbank is trying to get into this market. Alibaba also wants to get into it.

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