One of the largest IT services providers in Russia, Softline, is considering an initial public offering (IPO), Prime reported on May 13 citing the founder and chairman of the board of directors, Igor Borovikov.
As reported by bne IntelliNews back in 2018, Softline was among the Russian mid-cap names that is expected to IPO in the next two-three years.
The company is also one of the few Russian tech names issuing bonds, placing RUB2.7bn ($45.9mn) worth of bonds with a maturity period of three years and 11% coupon in December 2017.
"Today we see significant potential for further creation of value on the basis of Softline’s global presence and are thinking about different opportunities of strategic expansion, including through a potential placement of the company’s shares on the bourse," Borovikov said on May 13.
Borovikov is the main shareholder of Softline, with other shareholders including Da Vinci Capital, Zubr Capital and Sovcombank. The group's turnover rose by 8.9% to $1.8bn in 2020, and the group operates in over 50 countries. The company is one of the largest investors in Russian online education market.
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