Infrastructure software developer Astra Group will hold an IPO on the Moscow Exchange
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IT company PJSC Astra Group (developer of the Astra Linux operating system and other infrastructure software) announced about the intention to conduct an IPO of ordinary shares on the Moscow Exchange. Bidding will begin in October. Based on the results of the IPO, the share of the group’s shares in free float is expected to be about 5%. The shares will be offered by the company’s current shareholders.
After the IPO, existing shareholders will retain a majority stake in the share capital, the group’s statement clarifies: “They will continue to take part in the growth of the group’s business and further strengthening its leadership position in the Russian infrastructure software market.”
According to Kartoteka.ru, 15% of Astra Group belongs to its CEO Ilya Sivtsev, 5% to Svetlana Novoseltseva, the remaining co-owners are hidden. Until July 2022, Ilya Sivtsov owned 20% of the parent company of the group, Rusbitech-Astra LLC, 80% belonged to Denis Frolov. The partners also owned the lighting equipment manufacturer Varton Group of Companies, which had previously purchased a controlling stake in Baikal Electronics JSC.
RBC reported about Astra Group’s intention to hold an IPO in September. The publication specified that investors would be offered a “small package.” At the end of 2022, Astra’s revenue increased 2.5 times, to 5.4 billion rubles, net profit – 2.8 times, to 3 billion rubles. EBITDA increased 2.7 times, to RUB 2.9 billion.
About Astra Group projects “Caution, codes are being revealed”.
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