Whoosh raised 2.1 billion rubles during the IPO
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The Russian service for renting electric scooters Whoosh announced a successful IPO on the Moscow Exchange. The placement price was 185 rubles. per share, which corresponds to Whoosh’s market capitalization of 20.6 billion rubles, the company’s press service reported.
As a result of the IPO, Whoosh raised 2.3 billion rubles through the additional issue of shares. The market capitalization of the company will amount to 20.6 billion rubles. As a result of the placement, more than 10% of the increased share capital will be in free float. Trading in Whoosh common shares under the ticker WUSH will begin on the Moscow Exchange on December 14.
“The IPO is an important and logical stage in the development of Whoosh, confirming the success of our business. The Whoosh IPO is also significant because it is the only Russian IPO in 2022. We have also become the first tech company in the sharing economy to be listed on the Moscow Exchange,” Dmitry Chuiko, CEO of Whoosh, commented on the IPO. More than half of the total IPO volume fell on the leading Russian investment funds, the businessman emphasized.
As noted in the company, the funds raised will be used to finance the investment program of the Whoosh group, including the expansion of the park and access to new regions.
The fact that the scooter rental service can hold an IPO has become known in the end of November. 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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