Largest stock market debut by a Russian company in three years.
The courses are going downhill worldwide. Investors need strong nerves.
The Russian online retailer Ozon takes almost a billion dollars (around 840 million euros) on its IPO in New York, celebrating the largest stock market debut of a Russian company in three years. The depository receipts (ADS) would be offered at $ 30, according to Ozone, and thus above the price range. The number of papers on offer was also increased. Investors scrambled to take part in the ongoing boom in online shopping in Russia.
The Wildberries competitor, in which the Sistema conglomerate has a stake, now has more than eleven million customers. Business has been flourishing since the outbreak of the corona pandemic. The e-commerce sector in Russia grew 51 percent in the first half of the year compared to the previous year.
