FILE PHOTO: A board with the logo is on display outside the office of the Moscow Exchange in the capital city of Moscow, Russia March 24, 2022. REUTERS/Maxim Shemetov
MOSCOW: E-scooter firm Whoosh says it is considering an initial public offering (IPO) on the Moscow Exchange, in what would be Russia’s first public listing since the country began what it calls a “special military operation” in Ukraine.
From commodities to finance and retail, at least 10 companies had been looking to go public in 2022, advisers and bankers said late last year, before Russia’s IPO market stalled.
Whoosh did not say how much it was seeking to raise, but said it would use the capital to expand its fleet of electric scooters, enter new regions and strengthen its market position.
Existing shareholders would also sell down some of their stake in the IPO to boost liquidity in the offering, Whoosh said in a statement. Whoosh’s founders own about 75% of its equity, with Ultimate Capital holding 12.9% and VIM Investments 13.7%. — Reuters
