Ozon IPO placement volume could be increased 10% amid high demand - source
MOSCOW. Nov 23 (Interfax) - The placement volume within the framework of the IPO by online marketplace Ozon could be increased by 10%, a source familiar with the progress of the deal told Interfax.
It is planned that Ozon Holdings will place not 30, but 33 million American depositary receipts (ADRs). The size of the organizers' option will also be increased by 10% - from 4.5 million ADRs to 4.95 million.
At the same time, price guidance has also been raised amid strong investor demand: the organizers informed investors that bids below $30 risk remaining unsatisfied, whereas initially, the corridor has been announced at between $22.5 and $27.5 per receipt.
The volume of the transaction, if placed at $30 and fully realized, will strongly clear the $1 billion mark and make total around $1.14 billion.