Parent structure of Russian software developer Bazis transformed into PJSC ahead of possible IPO

MOSCOW. Nov 14 (Interfax) - JSC Bazis Group of Companies (Cloud Platform LLC until August this year), which owns 100% of the Russian system software developer Bazis LLC, has been transformed into a PJSC, according to data from the Unified State Register of Legal Entities.

The change was entered into the Unified State Register on Thursday, November 13. The CEO of the PJSC, as previously of the JSC, is the head of Bazis, David Martirosov.

The day before, Martirosov said that the company could conduct an IPO by the end of the current year. "We are not ruling out the possibility of conducting an IPO by the end of the year. We are placing a very strong emphasis on how the market behaves, and we haven't yet made a final decision," Martirosov said at the sidelines of the Digital Solutions forum. He said that the decision would be made by the end of November.

RBC reported in September, citing sources, that Bazis was planning to conduct an IPO in 2025. It said that the placement could raise up to 5 billion rubles.

As part of the IPO, shares could be offered by two of the three shareholders of Bazis, who plan to put parts of their packages up for sale but do not plan to exit the business completely, Martirosov said. Rostelecom does not intend to reduce its stake in Bazis, he said.

Bazis LLC was founded in 2021 through a merger of Rostelecom assets KNS Group, known as Yadro, and GS Invest's Rubytech.

According to a management report, Bazis LLC boosted its revenue 50% to 4.5 billion rubles in 2024. The number of clients grew 30% and the number of projects implementing its solutions increased 2.2-fold to 160.