Russian online retailer Ozon seeks to raise up to $825 million in US IPO



by   |  VIEW 586

Russian online retailer Ozon seeks to raise up to $825 million in US IPO

Ozon Holdings, the Moscow-based 22-year-old Russian online retailer, had been seeking to a dual public market listing in both Moscow and New York, while the Moscow-based online retailer had been looking to raise an upsum of $825 million in its US IPO (Initial Public Offering), the retailer said in a regulatory filings with the US SEC (Securities and Exchange Commission) on Tuesday.

On top of that, the Russian retailer, which had filed its registration application for a US IPO earlier this month, had been quoted saying earlier in the day that the company, often called as the “Amazon of Russia,” had been expecting to offer as many as 30 million American Depository shares at a targeted price range between $22.50 to $27.50 apiece.

Concomitantly, established in the 1998s as an online bookstore, similar to Amazon.com Inc.’s arrival into the online retailing industry back in the 1995s, Ozon became one of the largest online retailers in the country which offers a swathe of products ranging from cloths and apparels to groceries to electronics, while the retailer had reported a nearly 93 per cent upsurge in sales to $1.1 billion last year.

Ozon’s volume of orders in tandem had been more than doubled to 32.2 million last year.

Ozon plans Moscow listing shortly after US debut

Apart from that, Ozon Holdings had also added at its regulatory filing with US SEC on Tuesday that the Russian retailing behemoth, which had experienced a state of “hypergrowth” last year, had been exploring an option to list its shares on Nasdaq Global Select Market under the symbol “OZON”.

In factuality, a potential public market debut for Ozon Holdings in the United States came against the backdrop of a sweeping upsurge in online deliveries mostly due to an uptick in pandemic cases, while a spokeswoman for Ozon said following the announcement that the Russ retailer had been exploring an option to list its American Depository Shares (ADS) in Moscow shortly after the US IPO.