Russian online retailer mulling US stock exchange listing


Russian online retailer Ozon said Friday it is
planning to list on the US stock exchange after meteoric growth, fuelled
most
recently by the boom in e-commerce due to coronavirus lockdowns.

Ozon has “submitted a draft registration statement… to the Securities
and
Exchange Commission relating to the proposed initial public offering of its
ordinary shares,” the company said in a statement.
“The number of shares to be offered and the price range for the proposed
offering have not yet been determined. The initial public offering is
expected
to take place after the SEC completes its review process, subject to market
and other conditions,” it added.

Earlier, a report in the Wall Street Journal said that Ozon — which
began
in 1998 as an online bookstore and is often called Russia’s Amazon — was
preparing an IPO later this year or early next year in a transaction
potentially valuing it at $3.0-5.0 billion.
Ozon notched up growth of more than 100 percent in the first quarter and
nearly 200 percent in the second, as the pandemic boosted e-commerce
platforms
by spurring more people to shop online.

Its main shareholders are the private equity firm Baring Vostok Capital
and
AFK Sistema, a conglomerate controlled by businessman Vladimir Yevtushenkov.
With the Russian economy in the doldrums, e-commerce has seen several
years
of booming sales and a number of large groups, from public bank Sberbank to
China’s Alibaba, have tried to move into the market by teaming up with local
internet giants, Yandex and Mail.ru.(AFP)



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