Astra's listing, which is expected to result in a free float of about 5%, could breathe some life into Russia's moribund equity capital markets, which have been starved of deals since Moscow sent its troops into Ukraine in February 2022, prompting sanctions and the departure of Western bankers and lawyers.
Alfa Bank analysts valued Astra, which more than doubled its core earnings year on year to 5.4 billion roubles in 2022, at around 70 billion-90 billion roubles ($712 million-$915 million) in a report published on Monday.
Gazprombank analysts estimated the company's value at 100 billion-160 billion roubles.
Sberbank, Gazprombank, Alfa Bank and Start Capital were chosen as organisers of the offering, said the sources, who asked not to be named because the information is private.
Astra Group declined to comment.
Astra dominates Russia's operating system (OS) market with its Astra Linux software. It offers a range of software solutions to Russian government entities and state companies, including those in critical infrastructure, many of which were deprived of access to Western technology after Russia started what it calls its "special military operation" in Ukraine.
https://finance.yahoo.com/news/russian-tech-firm-astra-open-151537550.html
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