Ozon asking USD 5 billion in share sale

RUSSIA / FSU POLITICS - In Brief 18 Nov 2020 by Alex Teddy
Ozon is Russia's second biggest online retail company. Its new valuation is one of the most keenly awaited on the Moscow Bourse.Ozon said its price shares in the IPO will be USD 22.5 to 27.5 That is high by analysts' estimates. The IPO is planned to be on the Nasdaq.Ozon could make USD 1 billion from the IPO. It is expected the week beginning November 23 but this has not been confirmed.This IPO will be the biggest and most anticipated Russian launch in several years. A small number of Russian companies have listed on global stock markets since 2014.Ozon will sell USD 135 million of extra shares to long time investors such as Baring Vostok and Sistema.Ozon wants to widen its logistics network. Online retail is growing in Russia.Ozon paid USD 13 million to Sberbank to settle an undisclosed dispute in November 2020. That issue had been a risk for the IPO.Global stock markets are galloping due to the Biden win and encouraging vaccine trials. This seems like a propitious moment for an IPO.Ozon has 4% of the Russian online retail market. It wants to be the Russian equivalent of Amazon.Ozon's GMV will hit USD 4.6 billion in sales in 2021 according to one industry insider. That would lead to profits almost double those of 2020.

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