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    YNDX   NL0009805522

YANDEX N.V.

(YNDX)
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Yandex N : Russia's Delimobil discloses strong revenue growth in U.S. IPO filing

10/08/2021 | 03:54pm EST

Oct 8 (Reuters) - Delimobil Holding S.A. on Friday filed for an initial public offering (IPO) in the United States and revealed that its revenue for the first half of this year more than doubled, as the car-sharing company becomes the latest in a slew of Russian firms targeting market debuts.

Russian IPO activity is picking up pace as the global economy improves and concerns over fresh Western sanctions fade. The Moscow Exchange expects to hold 10 share listings by the end of the year.

Renaissance Insurance and IT firm Softline recently announced their intention to float shares. Others including real estate database CIAN and the SPB Exchange are also preparing IPOs, sources have said.

Delimobil's revenue for the six months ended June 30 came in at 4.93 billion roubles ($68.6 million), up from 2.25 billion roubles in the same period a year earlier.

Losses narrowed to 1.07 billion roubles, from nearly 2.3 billion roubles a year earlier.

The company has not set terms for its share sale, but Reuters reported exclusively that Delimobil is planning to raise around $350 million on the New York Stock Exchange, with a dual listing in Moscow.

The company was founded in 2015 and operates a fleet of over 18,000 vehicles in 11 cities across Russia. It first announced IPO plans in 2019, saying it would float a 40% stake.

Delimobil is the largest player in Moscow's car-sharing market, recently overtaking major competitor Yandex.Drive, run by Nasdaq-listed Yandex.

At the beginning of August, Delimobil's share of the car-sharing market in the Russian capital was 44.2%, compared with Yandex.Drive's 37.7%, data from the Moscow transport department showed.

BofA Securities, Citigroup Global Markets and VTB Capital will act as joint lead book-running managers, while Renaissance Securities, Sberbank CIB and Banco Santander will act as joint bookrunners, Delimobil said. ($1 = 71.8428 roubles) (Reporting by Gleb Stolyarov and Alexander Marrow in Moscow and Niket Nishant in Bengaluru; Editing by Shounak Dasgupta and Shailesh Kuber)


ę Reuters 2021
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Analyst Recommendations on YANDEX N.V.
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Financials
Sales 2021 350 B 4 745 M 4 745 M
Net income 2021 -16 482 M -224 M -224 M
Net cash 2021 81 944 M 1 111 M 1 111 M
P/E ratio 2021 -118x
Yield 2021 -
Capitalization 1 874 B 25 471 M 25 414 M
EV / Sales 2021 5,12x
EV / Sales 2022 3,76x
Nbr of Employees 11 864
Free-Float 88,1%
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Yandex N.V. Technical Analysis Chart | YNDX | NL0009805522 | MarketScreener
Technical analysis trends YANDEX N.V.
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 17
Last Close Price 5 227,55 RUB
Average target price 6 577,83 RUB
Spread / Average Target 25,8%
EPS Revisions
Managers and Directors
Arkady Volozh Chief Executive Officer & Executive Director
Svetlana Demyashkevich Chief Financial Officer
John Wilson Boynton Non-Executive Chairman
Vadim Marchuk Chief Operating Officer
Charles Emmitt Ryan Independent Non-Executive Director
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