Maxim Pustovoy, Chief Operating Officer of Positive Technologies cybersecurity firm, poses for a photo during an interview at his office in Moscow, Russia, April 30, 2021. Photo he was taken on April 30, 2021.

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  • This content was created in Russia, where law restricts coverage of Russian military operations in Ukraine

MOSCOW (Reuters) – Cybersecurity firm Positive Technologies said on Monday it would launch a secondary offering (SPO) of up to 2.6 million shares of common stock.

Positive Technologies said it will not issue new shares in the SPO and will set prices in the range of 1,200 to 1,320 rubles ($19.90 to $21.89) per share. SPO could lift free float up to 14%.

The shares will be sold by the company’s major shareholders and executives, the company said, adding that neither will sell all or a majority of its shares in the public offering.

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The exercise will run from September 19th to 27th, with final pricing announced by September 28th.

Founder Yuri Maximov is the company’s largest shareholder, with a 51.88% stake, according to the company’s website.

Moscow’s role in the Ukraine conflict has hampered plans for a Russian company to go public this year.

Multiple sources told Reuters last week that e-scooter company Whoosh will raise about $170 million in an IPO in Moscow this year, making it the first public offering since the dispute began. It’s going to be.

Positive Technologies’ owner Positive Group (POSI.MM) listed its shares on the Moscow Stock Exchange in December, priced at around RUB 69 since opening at RUB 770 despite a February slump. % increased.

On Monday, the company’s shares were flat after falling 1.7% by 0809 GMT.

In April, the US Treasury Department blacklisted Positive Technologies and other IT companies for aiding Russian intelligence services. The company calls this a “baseless accusation.”

Blacklisting is based on “misunderstandings and mistakes,” Chief Operating Officer Maxim Pustovoy said.

Positive Technologies says 98% of its revenue comes from Russia.

“We are the only cybersecurity company to go public through a direct listing, and we hope to meet investors who are interested in technology and investments in this industry,” Pustovoy said in a statement. said in

The company’s shareholder base has grown from 1,400 since its market debut to nearly 60,000, Pustovoy added.

($1=60.3000 rubles)

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Reporting by Anna Pruchnicka from Gdansk and Alexander Marrow from Moscow. Edited by Kirsten Donovan and Clarence Fernandez

Our standards: Thomson Reuters Trust Principles.


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