Electric scooter service Whoosh will hold an IPO on the Moscow Exchange
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Russian scooter rental service Whoosh intends to conduct an initial public offering (IPO). The company has applied for the inclusion of its ordinary shares of PJSC VUSH Holding in the list of securities for trading on the Moscow Exchange. The timing of the IPO is not specified.
The company’s statement notes that the possibility of an initial public offering by the issuer depends on “market conditions”. As part of the IPO, the company intends to offer both shares of the additional issue and securities of current shareholders; the scope of the offer will be determined later.
In addition, current shareholders can sell some of their shares to create liquidity in the secondary market, while retaining a significant stake in the company’s capital. After the transaction, the founding shareholders will continue to manage the company to implement a leadership strategy in the kicksharing market, the report said.
The company plans to use the funds that will be raised during the IPO to finance the activities of the group, including expanding the fleet of electric scooters and entering new regions, the company said.
The fact that Whoosh intends to raise 10 billion rubles. during the initial public offering, it became known in October. According to RBC, one of the possible organizers of the IPO will be Tinkoff Bank. In September, Forbes reported on Whoosh’s plans to raise 6 billion rubles in an IPO.
Read more about why the electric scooter rental service decided to go for an IPO in the Kommersant FM article. “Whoosh Increases Attraction”.
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