Zaymer IPO priced at lower end of price range, values lender at 23.5 bln rubles

MOSCOW. April 12 (Interfax) - The initial public offering of payday lender Zaymer was carried out at a price of 235 rubles per share, the company reported.

This corresponds to the lower end of the previously announced price range of 235-270 rubles per share, and values the company at 23.5 billion rubles at the start of trading.

The company's founder and sole owner, Sergei Sedov offered investors shares totalling about 3 billion rubles in the IPO. Additional shares totaling 500 million rubles were also offered for possible stabilization in secondary trading for a period of 30 days after it began. The offering thus totaled 3.5 billion rubles.

The IPO resulted in a free float of 15%.

Investors submitted about 60,000 bids in the IPO and the average allocation for retail investors was about 14%. The company and Sedov will be subject to the standard lock-up period of six months.

The Moscow Exchange has admitted Zaymer to trading as a third tier stock. Trading will begin on April 12 under the ticker.

Zaymer, which specializes in issuing loans online, said it has a customer base of more than 17 million people. The company closed 2023 with net profit to IFRS up 5.8% to 6.1 billion rubles from 5.8 billion rubles in 2022.