IT infrastructure developer Rubytech may hold IPO on Moscow Exchange in spring - newspaper

MOSCOW. March 12 (Interfax) - Rubytech, a developer of products and technologies for high-load IT infrastructures, plans to conduct an IPO on the Moscow Exchange in 2025, RBC reported, citing its sources.

The company aims to be technically ready for the offering by the spring of this year, RBC said. As part of the deal, Rubytech seeks to raise 5-10 billion rubles. The IPO is needed to establish an employee incentive program, structure corporate processes and streamline the management of an already mature business.

Regarding the timing of the offering, one RBC source said that the IPO could take place in the spring, while another source said the exact timing of the listing has yet to be determined.

"The Rubytech Group's strategy is focused on strengthening its leadership in market segments such as the production of software and hardware systems, and more broadly the development of technologies for high-load IT infrastructures, as well as expanding into new market segments. An IPO is one possible step to support our strategy. If a decision on the IPO is made, we will inform the market," Rubytech told RBC.

Rubytech Group is a manufacturer of software and hardware systems and a developer of technologies for high-load IT infrastructures. It was founded in 2020 based on one of the legal entities of the IBS IT holding, owned by Anatoly Karachinsky and Sergei Matsotsky - IBS Consulting LLC, which was renamed Rubytech LLC after corporate restructuring. Currently, information about the group's ultimate beneficiaries is not publicly available.

The group's holding company is JSC Rubytech Group, which owns Rubytech Integration LLC and Rubytech Holding LLC. The group also includes legal entities such as Scala-R LLC, Rubytech LLC, Digital Technology Center LLC, and RBT Service LLC.

Rubytech LLC's revenue amounted to 22 billion rubles in 2023, with a net profit of 2 billion rubles, while Scala-R LLC generated 14.4 billion rubles in revenue and 1.9 billion rubles in net profit.