Support The Moscow Times!

Anywayanyday.com to Raise $50M

Russian online airfare- and hotel-booking site Anywayanyday.com intends to raise up to $50 million from investment funds at the end of 2012, ahead of a possible initial public offering in 2014, its founder and main shareholder said.

Kirill Podolsky, a 60 percent shareholder, said Wednesday that the firm would offer new shares, seeking to attract one or two funds.

“It may be a structured transaction, such as a private placement … (backed by) a loan,” Podolsky said, adding that an IPO in London or New York was possible no earlier than early 2014.

The Lausanne, Switzerland-based firm, created in 2008, sold a 40 percent stake in 2010 to Tiger Global Management, which is also an investor in Yandex, Russia’s top search engine.

Global investors have been showing a growing appetite for Russian Internet firms as they seek to tap into rising consumer spending and fast-growing use of broadband in Russia, now Europe’s biggest Internet market.

Russian online retailer KupiVIP said last month that it wanted to float shares on the New York Stock Exchange within two years, in a move that could raise more than $120 million.

Yandex and rival Internet group Mail.Ru raised nearly $2.5 billion between them in oversubscribed IPOs in New York and London in 2010 and 2011.

… 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.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more