Support The Moscow Times!

Russian Carsharing Startup Delimobil Could Sell Shares in 2020

The company is one of about a dozen carsharing operators in Moscow

Delimobil is one of about a dozen carsharing operators in Moscow that collectively control 94% of the market. Sergei Kiselyov / Moskva News Agency

Russian carsharing start-up Delimobil could hold an initial public offering (IPO) at the end of 2020 on the Moscow Exchange, Interfax reported on August 7 citing the head of Mikro Kapital Group Vincenzo Trani.

Delimobil is one of about a dozen carsharing operators in Moscow that, along with Belka Car, You Drive, and Yandex.Drive, collectively control 94% of the market. Delimobil estimated that the carsharing market in Moscow already reached 12,000-13,000 vehicles in 2018.

"As far as an IPO is concerned, we plan it on the Moscow Exchange, not abroad, and we plan it for the end of 2020," Trani said.

Carsharing participants in Moscow could triple to 30,000 by 2025, according to a PriceWaterHouseCoopers forecast cited by the RBC business wesbite in September 2018.

The total car sharing and taxi market in 2017-2025 will grow by 2.5 times to 1.6 trillion rubles ($24 billion), Sberbank estimates.

This article first appeared in bne IntelliNews.

Read more

The need for honest and objective information on Russia is more relevant now than ever before!

To keep our newsroom in Moscow running, we need your support.