MOSCOW (Reuters) – Russian online retailer Ozon said on Tuesday it had filed for an initial public offering of its American Depositary Shares (ADSs) with U.S. regulators.
The e-commerce firm intends to list its ADSs on the Nasdaq Global Select Market. The proposed maximum size of the offering is $100 million, according to the company’s prospectus submitted to the U.S. Securities and Exchange Commission.
Renaissance Capital estimated that the deal could raise up to $500 million. No pricing terms were disclosed by Ozon.
Ozon named Morgan Stanley and Goldman Sachs as joint lead book-running managers for the proposed offering, with Citigroup Global Markets, UBS Securities, Sberbank CIB and VTB Capital as joint bookrunners. Renaissance Securities will act as co-lead manager.
Reuters earlier this month reported, citing banking sources, that Ozon and online cinema ivi, were considering IPOs in the United States later this year.
The fast-growing firm, Ozon, whose orders have swelled during the COVID-19 pandemic with lockdown measures keeping people at home, said in March it was targeting a listing within two years as it spends big on logistics to grab market share.
(Reporting by Maria Kiselyova and Alexander Marrow; Editing by Shailesh Kuber)
