Support The Moscow Times!

O1 Sets London IPO Range

Real estate investment company O1 Properties said it aims to raise about $425 million from a London stock market listing to invest in Moscow's booming commercial property market.

O1 Properties, set up by former directors at Moscow brokerage Otkritie, on Tuesday announced a price range of $11 to $13 per share for its initial public offering of new stock. It was not clear how many shares the company plans to sell.

The IPO would be Russia's biggest since fertilizer group Phosagro raised $538 million in London just before equity markets slumped last July. Based on the IPO price range, the company would be valued at $977 million to $1.08 billion. The offering may increase $60 million if an overallotment option is used, O1 Properties said.

The company, which owns mixed-use sites, including offices and restaurants around Moscow, said it intends to use the money raised to fund two business centers in Moscow and to repay debt.

Oil company Ruspetro raised $250 million in January in the only Russian IPO so far this year.


… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more