Russian software developer IVA planning IPO in 2024 - paper

MOSCOW. March 27 (Interfax) - IVA Technologies, a Russian developer of a videoconferencing service, plans to carry out an initial public offering in 2024, business daily Vedomosti reported on Wednesday, citing two software market sources.

The paper reported another source as saying that the IPO will take place before the end of the third quarter.

The company has already hired bank advisors and lawyers and the offering will include the sale of shares by current shareholders, a source familiar with the company's plans told the paper.

IVA Technologies is developing an ecosystem that includes its flagship videoconferencing service, a corporate messenger, business assistant based on artificial intelligence, a management and monitoring system, corporate telephony server, IP telephony and other products.

The company's parent entity is IVKS LLC, which is owned by Nikolai Ivenev with 31.56%; Andrei Zokin with 25.4%; Stanislav Iodkovsky with 23.12%; Yevgeny Terentyev with 16.05%; and Viktor Petrov with 3.85%, the Unified State Register of Legal Entities showed.