Industry association Russoft and the Moscow Exchange have created a joint working group to help Russian software companies get ready for IPOs, Rambler News Service (RNS) reported last week based on exchanges with industry representatives.
Nearly 10 Russian software developers are preparing to go public. Among them are I.T. Group, which intends to sell its software assets on the stock exchange within two years, and 1C, Russia’s enterprise software giant, RNS learned from these sources.
“Basically, all the reputable market leaders are moving towards an IPO,” said Gennadiy Margolit, Managing Director of the Innovation and Investment Market at Moscow Exchange.
The companies which generate their revenue mostly in Russia are getting ready to go public, believes Tahir Yapparov, head of the I.T. Group’s board of directors.
“Such a move will allow, inter alia, developing export, since export itself is a long-term investment project. It has a long cycle, requires significant funding and offers no result in the short term,” he added.
Source: RNS
