Shares Trading to Start in the Growth Sector of the Moscow Exchange
3 November 2017. Trading of ordinary shares of Globaltruck Management PJSC will start on the Moscow Exchange. Trading code: GTRK. BCS Global Markets acted as joint global coordinator and joint bookrunner of the placement.
Within the public offering on the Moscow Exchange, shares for the total amount of RUB 3.5 billion excluding the over-allotment option (the “base offering”) and RUB 3.85 billion assuming full exercise of the over-allotment option at the price of RUB 132 per Share, which corresponds to the market capitalization of the company of RUB 7.7 bln. The Russian Direct Investment Fund (RDIF) acted as anchor investor.
The shares of Globaltruck Management PJSC will be traded in the Growth Sector established by the Moscow Exchange to attract investments by small-cap and mid-cap companies.
The transaction comes as BCS Group released its H1 results 2017, revealing that the company had increased return on equity to 30%, driven by Net revenues rising 28% while expenses increases by 18%. This led to Net profit growth up 48% (1H 2017 vs 1H 2016).
Roman Lokhov, Chief Executive Director, BCS Global Markets:
The transaction with Globaltruck is important for us as part of a wider strategic focus on the new segment of the Moscow Exchange, the Growth Sector, intended for mid-cap companies.
The success of Globaltruck will pave the way for a whole layer of smaller companies which will be able to enter the full-fledged public market and to raise capital, and our investors will be able to receive attractive and growth assets in their portfolios.
Said Alexander Eliseev, the Group’s co-founder and CEO, commenting on today’s announcement:
I am delighted with the success of our Offering which clearly demonstrates that investors, both in Russia and internationally, have recognised the quality of Globaltruck’s business and the potential of our sector. We welcome all our new shareholders and now look forward to progressing our strategy to firmly establish Globaltruck as Russia’s National Champion in the road freight industry.
Said Mikhail Mamuta, Chairman of the Working Group for Moscow Exchange Growth Sector Development, Head of Service for Consumer Protection and Financial Inclusion of the Bank of Russia:
This is a good example for potential participants in our new segment – the Growth Sector. The fact that one of the Growth Sector partners has acted as anchor investor demonstrates that strategy investors are interested not only in this particular company, but also in the whole Growth Sector. We are committed to providing additional tools to support companies in the Growth Sector, including access to soft loans from development finance institutions, and – in the future – facilitating easier participation from pension funds (subject to additional requirements for information disclosure by the exchange and transparency of issuers).
A message from management of BCS Global Markets
The continuously evolving nature of the global coronavirus situation has meant we at BCS Global Markets (BCS) are taking all necessary steps to keep business disruption to an absolute minimum.
Effective from today (Wednesday 18th March) employees from all divisions of the business based in our Russia, UK, USA and Cyprus offices who can work from home without creating any even minor possible risk for business continuity of the Group will be working remotely. It is very much business as usual at BCS. Our employees are equipped with secure access to our systems and will follow their normal working hours, keeping in regular contact with their colleagues and clients.
Despite ongoing disruption caused by COVID-19, we want to also assure you that following a sustained period of positive performance, our capital and liquidity position remains very strong. The business is well-placed to meet any subsequent financial challenges and will continue to go above and beyond for our clients.