Car sharing operator Delimobil plans an initial public offering on the Moscow Exchange
[ad_1]
One of the prominent Russian car sharing operators, Delimobil, announced its intention to conduct an initial public offering of shares on the Moscow Exchange. Thus, the company can become the first public participant among the players in the carsharing market in Russia. According to analysts, this market in the country is growing at an accelerated pace, its volume by the end of 2024 could approach 62 billion rubles. against 44 billion rubles. based on the results of last year. However, difficulties with purchasing and servicing new cars continue to put pressure on the segment, experts warn.
The Russian car sharing operator Delimobil announced plans to hold an IPO on the Moscow Exchange, it follows from messages companies. The start of trading is scheduled for the end of January – the first half of February 2024.
According to Delimobil, based on the results of the public offering, the share of shares in free float could reach up to 10%. The bulk of the offer will consist of shares issued as part of the company’s additional issue. The company adds that the company’s existing sole shareholder, Delimobil Holding LLC, has no plans to sell outstanding shares and will retain control after the IPO.
Two Kommersant sources in the investment market say that Delimobil plans to raise about 10 billion rubles during the placement. However, according to two portfolio managers, Delimobil’s plans to list on the Moscow Exchange did not arouse much interest among managers.
Delimobil plans to use the funds raised during the IPO for further business development, debt reduction and general corporate purposes.
The general director of the operator, Elena Bekhtina, noted that offering shares on the Moscow Exchange, in addition to diversifying the capital structure and attracting additional financing, will draw the attention of a wide range of investors to the potential and opportunities of carsharing in Russia.
Delimobil was founded in 2015. It is a major car sharing operator in Russia in terms of the number of trips and the size of its fleet, which numbers more than 24.2 thousand vehicles. According to B1 consultants, the company holds a 40% share in the number of trips in Russia as a whole.
The service operates in ten cities of the Russian Federation: Moscow, St. Petersburg, Samara, Togliatti, Nizhny Novgorod, Yekaterinburg, Novosibirsk, Tula, Kazan and Rostov-on-Don. Revenue according to IFRS of the operating operator PJSC Carsharing Russia for the first nine months of 2023 increased 1.3 times year-on-year, to 14.5 billion rubles, net profit amounted to 1.4 billion rubles.
At the end of 2023, a total of eight initial public offerings took place on the Russian market, while in 2024, BCS analysts expect up to 15 IPOs. At the same time, according to the B1 company, the carsharing market in Russia at the end of 2023 grew by 33.3% year-on-year, reaching 44 billion rubles. In 2024, analysts predict an acceleration in the growth rate of this segment to 40.9%, to 62 billion rubles.
Experts, however, draw attention to the continuing difficulties with expanding the vehicle fleet and purchasing new carsharing vehicles. In addition, according to their data, pressure on increasing the penetration of the presence of car sharing services in new cities will be exerted by the limited solvent population.
[ad_2]
Source link
