Forbes: Whoosh plans IPO before the end of 2023
Electric scooter rental platform Whoosh intends to conduct an initial public offering on the Moscow Exchange before the end of 2022 or 2023, about this informed Forbes, citing sources including those close to competitor Whoosh.
According to the newspaper, the kicksharing service could have chosen the fourth quarter of this year to enter the IPO, as this is the "best time" in terms of the seasonality of the business. At the same time, a source in a company that invests in electric scooter rental services believes that a public offering of Whoosh shares is scheduled for the end of 2023.
The company did not confirm, but did not deny possible plans to enter the IPO. “Like any successful company, Whoosh is considering various strategic options, including opportunities in the capital markets, but it is too early to talk about any specific plans,” the message says.
It is specified that Whoosh is engaged in public placement SberbankThe bank did not comment on this information. According to a Forbes source among investment bankers, Whoosh wants to raise about 6 billion rubles in this way, and estimates itself at 24 billion rubles. - this is the upper limit of the range, according to the analyst of Finam Group Leonid Delitsyn. In his opinion, Whoosh's valuation starts at 16 billion rubles. The company will be able to reach the upper limit with a revenue of at least 6 billion rubles. at the end of 2022. Last year, the company's revenue amounted to 4.1 billion rubles, and at the end of the first half of 2022 - 3.2 billion rubles.
The decision to conduct an IPO may be related to the successful debut placement of bonds on the Moscow Exchange, which was held in June this year, says Alexander Chachava, managing partner of LETA Capital. Then Whoosh closed the order book for the issue of bonds in the amount of 3.5 billion rubles. - for 500,000 rubles. more than planned.
In August, Whoosh registered JSC "Wosh Holding" in order to combine the various legal structures of the company, including in Kazakhstan and Belarus, into one holding.
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