MOSCOW, Russia – Whoosh staged Russia’s only initial public offering of the year on Wednesday, December 14, though the e-scooter firm raised less than originally hoped in a market deprived of Western investors since Moscow sent troops into Ukraine in February.Shares were placed at 185 roubles each, the lower end of the price range, giving Whoosh a market capitalization of 20.6 billion roubles , the firm said in a statement.
The company said existing shareholders had provided shares worth 200 million roubles for possible stabilization in the secondary market, taking the IPO’s total volume to 2.3 billion roubles. The free float will exceed 10%, it said. Whoosh, whose yellow and orange scooters are a common sight around Moscow until snowfall forces a winter break, plans to use the funds to increase the size of its fleet and expand into new regions.
Source: News Formal (newsformal.com)
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