Jun 1, 2017
Russia online retailer plans IPO by 2020 , says CEO
Jun 1, 2017
Russian online retailer Ozon is planning an initial public offering within the next four years, its chief executive, Danny Perekalsky, said on Thursday.
Ozon, one of the pioneers of e-commerce in Russia, has invested heavily in building a logistics network and has recorded losses for the last several years, though it said last year that it was likely to break even in 2017. The website, founded in 1998, started out primarily selling books, electronics and music, but has meanwhile expanded to other lifestyle categories, including fashion, footwear and beauty.
Asked at the St Petersburg International Economic Forum what exit he foresaw for the business, Perekalsky said: "We have no doubt that it will go to IPO. If the story continues as it is going, it will be a successful IPO story.
"To make an exit you should come with a reasonable scale for this kind of business, and it is happening," Perekalsky said.
He added it was his "realistic forecast" to hold the offering within three to four years.
Ozon's investors include Russian conglomerate Sistema , Baring Vostok Private Equity Fund, and Russian telecoms operator MTS, which is a unit of Sistema.
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