Saturday, July 13, 2024
HomeBusinessRussian healthcare group EMC plans Moscow IPO By Reuters

Russian healthcare group EMC plans Moscow IPO By Reuters


Related stories

Gracie Bon: A Rising Star in the Fitness and Wellness Industry

Gracie Bon is a name that has been making...

Dimple Malhan- Personal and Professional life!!

Famous Vlogger recognised for Dimple's Kitchen YouTube channel. She...

Tips for Writing an Impactful Resume After a Long Career Break

Sometimes, it is necessary to take a career break...

Top 4 Reasons Your Business Should Have a Social Media Manager

Whether you decide to hire an in-house social media...


© Reuters.

MOSCOW (Reuters) -Russian private health clinic operator European Medical Centre (EMC (NYSE:)) is planning an initial public offering (IPO) on the Moscow Exchange, the company said on Monday.

Financial market sources told Reuters last month the company was considering an IPO as soon as this summer and could raise about $500 million. Chief Executive Andrei Yanovsky said this month the firm was always ready to turn to capital markets for funds.

Certain existing shareholders, including Igor Shilov, who now holds a 71.2% stake in EMC, would sell global depositary receipts (GDRs) in the company. EMC will not sell any GDRs in the offering, nor will it receive any proceeds.

EMC said Shilov would remain a significant shareholder in the company after the offering.

EMC, which operates a network of medical centres in and around Moscow, reported revenue of 21.3 billion roubles ($295 million) last year, with a compound annual growth rate for 2018-2020 of 18%.

“The Russian healthcare market has been growing at a rapid clip for several years, with the paid services segment expanding at the fastest pace,” Yanovsky said in a statement.

He said Russia’s market for healthcare services was undervalued and therefore attractive going forward.

Citigroup (NYSE:) Global Markets Ltd, J.P. Morgan AG and VTB Capital PLC are acting as joint global coordinators and joint bookrunners in connection with the offering, EMC said.

Russia’s IPO market has been resurgent in recent months, with online retailer Ozon, low-cost retailer Fix Price and forestry group Segezha all listing since November.

But a decision by gold producer Nordgold to postpone a potentially multi-billion London debut listings has raised concerns that the fastest flurry of Russian stock-market listings under the sanctions era has run its course.

See also  Digital commerce: Govt sets up key panel to set protocols

($1 = 72.2060 roubles)

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Source link

Bellie Brown
Bellie Brown
Hi my lovely readers, I am Bellie brown editor and writer of I write blogs on various niches such as business, technology, lifestyle., health, entertainment, etc as well as manage the daily reports of the website. I am very addicted to my work which makes me keen on reading and writing on the very latest and trending topics. One can check my more writings by visiting

Latest stories