Defying U.S. sanctions, Russian cybersecurity firm aims for 2022 IPO

FILE PHOTO: A view shows a miniature, a model town whose systems two teams of hackers try to attack and defend at Positive Hack Days, organised by Positive Technologies cybersecurity firm in Moscow, Russia May 20, 2021. REUTERS/Alexander Marrow

MOSCOW (Reuters) - Russian cybersecurity firm Positive Technologies is pressing ahead with plans for an initial public offering (IPO) next year, despite the imposition of U.S. sanctions in April that ban it from working with U.S. financial institutions.

The U.S. Treasury in April blacklisted Positive Technologies and other IT firms for supporting Russian intelligence services, which the company described as "groundless accusations", while Chief Operating Officer Maxim Pustovoy said the blacklisting was based on "a misunderstanding and a mistake".