09.05.2019, 15:17
Investors Rated HeadHunter Shares as Part of an IPO
Source: OREANDA-NEWS
OREANDA-NEWS. Bidding company depositary receipts on the NASDAQ should begin on Thursday, May 9th. Investors rated HeadHunter close to the company's highest expectations - based on the IPO price, the company's capitalization is $ 650 million. As part of the IPO, HeadHunter’s shareholders will sell the company for $ 13.5 per share, according to a company announcement sent to the US Securities and Exchange Commission. HeadHunter shareholders - the Goldman Sachs Group structure and Elbrus Capital - offered investors 16.3 million ADS, corresponding to 16.3 million ordinary shares of the company. Thus, the company will place shares at $ 220.1 million.
HeadHunter notified the US Securities and Exchange Commission (SEC) of its desire to hold an initial public offering (IPO) at the end of 2017. Shareholders of Highworld Investments Limited (structure of Elbrus Capital, owns 59.99999% HeadHunter) and ELQ Investors VIII Limited (structure of Goldman Sachs Group, 40%) planned to sell securities for $ 250 million. The placement was organized by Morgan Stanley, Goldman Sachs, Credit Suisse, BofA Merrill Lynch, VTB Capital and Sberbank CIB.
However, after the US Department of Finance introduced new sanctions against Russia in April 2018, the IPO HeadHunter was in doubt, Kommersant wrote, citing its sources. In the company itself, the fate of the placement was not commented. A year later, at the end of March 2019, HeadHunter updated the prospectus on the SEC website, and in April, opened the price range - $ 11–13.5 per share. The total IPO will be up to $ 253.1 million, HeadHunter pointed out. In total, it was planned to place 18.75 million shares out of 50 million. Based on this, the company valued itself at $ 550–675 million.
According to Anna Kubatova, Alfa Bank analyst, HeadHunter has attractive financial indicators: high margins with low capital costs and a small debt load. “Shareholders offered shares of a fast-growing company at an affordable price, so the demand was high.
HeadHunter notified the US Securities and Exchange Commission (SEC) of its desire to hold an initial public offering (IPO) at the end of 2017. Shareholders of Highworld Investments Limited (structure of Elbrus Capital, owns 59.99999% HeadHunter) and ELQ Investors VIII Limited (structure of Goldman Sachs Group, 40%) planned to sell securities for $ 250 million. The placement was organized by Morgan Stanley, Goldman Sachs, Credit Suisse, BofA Merrill Lynch, VTB Capital and Sberbank CIB.
However, after the US Department of Finance introduced new sanctions against Russia in April 2018, the IPO HeadHunter was in doubt, Kommersant wrote, citing its sources. In the company itself, the fate of the placement was not commented. A year later, at the end of March 2019, HeadHunter updated the prospectus on the SEC website, and in April, opened the price range - $ 11–13.5 per share. The total IPO will be up to $ 253.1 million, HeadHunter pointed out. In total, it was planned to place 18.75 million shares out of 50 million. Based on this, the company valued itself at $ 550–675 million.
According to Anna Kubatova, Alfa Bank analyst, HeadHunter has attractive financial indicators: high margins with low capital costs and a small debt load. “Shareholders offered shares of a fast-growing company at an affordable price, so the demand was high.
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