Ozon IPO became the best IPO of a Russian company since 2011

Ozon IPO became the best IPO of a Russian company since 2011

Ozon CEO: E-commerce infrastructure in Russia is very important | Capital Connection

Description video:
Alexander Shulgin, CEO of OZON discusses the expansion of online retail in Russia.

Ozon IPO became the best IPO of a Russian company since 2011

E-commerce operator Ozon Holding PLC made the best market debut for a Russian company since 2011 as investors rush to acquire shares in online projects benefiting from the coronavirus pandemic.

Ozon rose 34% in New York to $ 40.18 per share, the best day since the IPO of Internet giant Yandex nine years ago. In Moscow, shares of the retailer also jumped on Wednesday after some investors failed to receive as many shares as they had planned during the American placement..

«There have been very few IPOs over the past few years to build a clear comparison, but all Russian e-commerce or tech companies like Yandex, Mail.ru, Headhunter have been well received on the exchange. This is what emerging market investors want, not state-owned enterprises and traditional economy giants in the energy and resource sectors.», – said Julian Rimmer, trader of Investec Bank Plc in London. 

A wave of tech IPOs this year raised more than $ 60 billion worldwide, Bloomberg writes.. According to RBC, the Russian online cinema Ivi.ru is also considering listing in the United States..

The market value of Ozon on Wednesday rose to 542 billion rubles (7.2 billion dollars), overtaking Mail.ru. Ozon is the largest Russian listing since EN + Group Plc in 2017 and the first Russian business after the IPO of Kismet Acquisition One Corp.

Ozon IPO became the best IPO of a Russian company since 2011

in the USA in August.