How much is Ozon aiming to raise in its US IPO?

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Ozon Holdings Aims for Up to US$948.8 Million in US IPO

Ozon Holdings is targeting to raise nearly US$1 billion through its initial public offering (IPO) in the United States. The company plans to offer 30 million American depositary shares (ADS) with an expected price range of US$22.50 to US$27.50 per ADS, which could yield up to US$825 million. This figure could increase to as much as US$948.8 million if the underwriters exercise their option to purchase an additional 4.5 million ADS.
IPO Fundraising Target

The Russian online retailer has set a target to raise between US$825 million and US$948.8 million from its US IPO. This fundraising effort is intended to capitalize on the significant growth in Russia's e-commerce sector, which has been spurred by the ongoing coronavirus pandemic and subsequent lockdown measures that have increased online shopping activity.
Share Offering Details

Ozon intends to issue 30 million American depositary shares (ADS) as part of the offering. The proposed price range for these shares is set between US$22.50 and US$27.50 per ADS. Furthermore, the company has included an option for underwriters to purchase an additional 4.5 million ADS, which would allow Ozon to raise the maximum potential amount if this option is fully exercised.
Ownership Structure Post-IPO

Following the completion of the IPO and assuming the full exercise of the underwriters' option for additional ADSs, new investors are expected to hold approximately 19 per cent of Ozon's shares. This indicates a significant dilution of existing ownership stakes as the company seeks to fund its expansion through public markets.
Strategic Context of the IPO

The planned listing on the Nasdaq Global Select Market under the symbol "OZON" comes at a time when the Russian e-commerce market has experienced substantial growth. In the first half of 2020, the market expanded by 51 per cent compared to the same period in 2019, with projections for full-year growth at 34 per cent. Ozon aims to utilize the proceeds from the IPO to further its expansion initiatives within this burgeoning market.

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How much is Ozon aiming to raise in its US IPO?

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