10 Jan 2020 17:00

Delimobil, Anytime owner transfers stakes to D-Mobility ahead of IPO

MOSCOW. Jan 10 (Interfax) - Mikro Kapital Group, the core owner of Delimobil and Anytime, has transferred some of its stakes in these carsharing projects to D-Mobility Worldwide a.s., which is registered in the Czech Republic, according to SPARK-Interfax.

D-Mobility Worldwide has since December 31 owned 85% of LLC Anytime and 10% of LLC car Sharing Russia, which operates under the Delimobil brand.

Members of the Mikro Kapital Group own 76.9% of Delimobil - the Impact Finance fund owns 66.9% and Artyom Sergeyev, Artur Melikyan, and Stanislav Groshov hold the rest of that stake - and 100% of Anytime.

D-Mobility Worldwide a.s. was registered in Prague in 2018 and is wholly owned by Mikro Kapital Management S.A.

The Mikro Kapital Group is currently planning to float shares in its carsharing services.

Vincenzo Trani, the founder of Mikro Kapital Group and CEO of Delimobil and Anytime, told Interfax that a decision had been reached to float D-Mobility Worldwide, which brings together the carsharing projects in Russia, Belarus, Kazakhstan and the Czech Republic.

"This company has existed since 2018 and is also the founder of Anytime in Belarus, Kazakhstan and the Czech Republic. We are transferring the Russia-based Anytime and Delimobil to that company. Instead of setting up an SPV we have decided to float on the New York exchange a company that already operates in the framework of the Mikro Kapital holding and is based in the Czech Republic. Czech law is interesting from the point of view of taxation and transparent from the point of view of reputation for the exchange," Trani said.

He said D-Mobility Worldwide's stake in Anytime would remain at 85% and its stake in Delimobil would rise to 85%. Scooter rental service Delisamokat will remain a separate project.

Trani first said an IPO was in the pipeline in an interview with Interfax in August 2019.

He said on January 10 that the details of the floatation should be finalized by May 2020. The exact timing of the IPO is not yet known and will depend on legal formalities and the market situation.

Consultations with investors in December 2019 indicated that American investors had expressed the most interest in a D-Mobility Worldwide IPO.

"It would be wrong to say that European investors are not interested, but American investors are more aggressive in this respect. Consultations have not yet been held with investors from Russia bit they are being planned," Trani said.

He said it was possible that Mikro Kapital Group would conduct a pre-IPO round of investment in the carsharing business, for which Rothschild & Co. has been hired. The amount of investment in this round would depend on the specific investor and their interests. "But for us it is important for this to be a strategic investor interested in the project's long-term development," Trani said.

"We are not viewing the IPO as a means of existing the project, but as one of the stages of the company's development. And if investors do come in they will need to be keen on developing the project after the IPO and not just in making a quick profit," Trani said.