Umxholo we-IPO usandula eRussia ngenxa yokuva. Oku kuqhagamshelwe ngakumbi kwi-IPO yeenkampani ezinje nge-ozon (MCX: Ozondr; Nasdaq: i-ozon) kunye nexabiso lokulungisa. Siphonononge ukuba zeziphi izinto ezinokwenzeka kule minyaka imbalwa izayo kunye nendlela onokuyifumana ngayo.
Sijonga le ndawo ilandelayo yendawo yokuhlala:
- Inkqubo ye-AFK (MCX: ADKS) iceba ukubeka uninzi lwee-asethi zalo. I-mains yiqela laseSegezha, iMedsi kunye neSteppe. Oku kwenza ukuba inkqubo ye-AFK i-asethi enomdla ngenxa yokuxelwa kwexabiso lezinto zeNkampani.
- I-IPO ye-Utonos inokuphembelela ngokufanelekileyo iingcaphuno zeRibbon (MCX: LNTADR) xa iphuhlisa imbali kunye neenkampani ezimbini. Kuyenzeka ukuba ukhathalele kwizabelo ze-ozon ngenxa yokuba abatyali-mali baya kuthatha isigqibo sokukhangela kwi-e-ofisi ye-e-Commerce eyona nkokeli yecandelo lecandelo layo, i-lockosos.
- Uloyiso kunye ne-Yandex.Taxe linokuhlala kwi-interpureji ephezulu kakhulu kuneenkampani ezithengiswayo, ezinokuba yi-Aeroflot (MCX: i-MCX), ngokulandelelana.
Lungisa ixabiso
I-WHO! Ivenkile yekhonkco kwintsapho yonke ngoluhlu olubanzi lweemveliso zasekhaya ngamaxabiso asezantsi asezantsi.Nini? Ngomhla we-10 kaMatshi. 2021.
Kwizicwangciso zokubamba i-IPO kwi-IPO kwixabiso le-London wit exelwe phakathi kuFebruwari. Inkampani iya kuchitha uluhlu lwesibini kwi-Moscow. Yazisa inkampani ye-IPO kwi-IPO $ 7- $ 11.5 yezigidigidi ngokweenkcukacha malunga nezinto esizicinga ngexabiso le-IPO, unokufunda apha.
Iqela laseSegezha.
I-WHO! Omnye wemizi-mveliso ye-tiber ye-tiber ye-tiber-timer kunye nesakhiwo esihlanganisiweyo esingqongqo kunye nomjikelo wokuchitha ngokupheleleyo kunye nokusebenza kwenkuni.
Nini? Ngaphambi kweminyaka engama-2021.
I-AFC ebambe inkqubo exeliweyo kwizicwangciso zeqela lenkampani ye-IPOTHA. Ingxelo ithi i-AFC ilungiselela ukuphuma kwenkampani kwi-stock itshintshiselwano ngo-2021, kodwa ukuza kuthi ga ngoku azikho izigqibo ezisemthethweni malunga ne-IPO.
Inkampani yinkokeli yeRussia kunye nenye yeenkokeli zentengiso yePhepha yePhepha laseYurophu (i-52% ne-16,5%, ngokulandelelana).
Inkampani ijolise kwiimarike zangaphandle, ezivumela ukuba zibe nenani elikhulu lengeniso yemali, i-70%.
Ingeniso yeNkampani kwiinyanga ezili-9 ezingama-20 ukuya kwi-50.2 yeebhiliyoni zeebhiliyoni. (+ 14.7% g), i-Ebitda yayikwinqanaba le-11.3 yezigidigidi. (+ 11.0% g / g).
Ukufikelela kwinkampani kwi-stock yotshintshiselwano kunokuba yinto ebaluleke kakhulu ye-AFC ye-AFC yenkqubo ye-98% yeNkampani. Oku kuya kwenzeka ngenkcitho yovavanyo lwentengiso yenkampani. Ukongeza, ukuphuma kwi-stock yotshintshiselwano kuthetha ukuba kungenzeka ukuba urhwebo lwasimahla kwizabelo, okuthetha ubugqwetha. Kwaye ukungabi nazimali kwenza i-asethi ixabiseke ngakumbi kwaye ixabise kakhulu.
I-MEDSI.
I-WHO! Inethiwekhi enkulu yeli lizwe i-Federal ye-Federal yezonyango kunye namaziko othintelo abonelela ngoluhlu olupheleleyo lweenkonzo.
Nini? Ngaphambi kweminyaka engama-2022.
Enye yeeasethi zeprofayili yenkqubo inokuqhuba i-IPO. Kwi-NKI, i-AFK inama-97% enkampani. Kwakulindeleke ukuba kubekho ukwenziwa ngo-2021. Nangona kunjalo, ke, ngenxa yobhubhane, inkampani yagqiba kwelokuba itshintshe iqhinga kwaye ifake i-stock yotshintshiselwano ngo-2022, ngokomlawuli wemisebenzi yezorhwebo kunye ne-PROSTUSE ALWALAKINIKOVA.
Ingeniso ye-MEDISI kwisiqingatha sokuqala sonyaka wawa kwi-10.5 yezigidigidi. (-1.9% g / g), kwaye kungekudala. I-EBITDA inciphile kwiibhiliyoni ezi-2,3 zeebhiliyoni. (-9.8% g / g).
Ukusukela i-MEDSI ikwayinkqubo yeasethi, ukufikelela kwenkampani kwi-stock yotshintshiselwano kuya kuba nefuthe elihle kubungakanani bemali ye-AFC. Eyona nto iphambili, kunye necandelo, iya kufumana uvavanyo lwentengiso lwenkampani kunye nokuhlawula imali.
Steppe
I-WHO! Enye yezona nkampani zikhulu ze-Agrafic eRussia.
Nini? Ayaziwa.
I-Steppe yenye yexabiso lenkqubo ye-AFC kolu luhlu, apho inkqubo ingama-85%. Ekuqaleni, ukubekwa kwe-asethi bekucingelwa ngo-2019. Emva koko yatshintshelwa kwi-2020, kodwa ngenxa ye-thendemic, iziphumo zeNkampani kwiThengisi yeStock iphinde irhoxisiwe kwakhona. Ngokuka-Vladimir Chirahov, uMongameli noSihlalo weBhodi yeNkqubo ye-AFC, inkampani inomdla omkhulu kubatyali-mali, kubandakanya iLizwe.
Kwiinyanga ezilithoba zokuqala ezingama-2020, ingeniso yenkampani inyuke nge-16.3% y ukuya kwi-22.3 yezigidi zeerandi, kwaye i-ebitda inyuke nge-37.3 ye-ruble i-rubles.
I-steppe inokuba lelinye i-asethi eya kunceda inkqubo ye-AFK ukuveza ixabiso layo lentengiso.
Yandex.TaxI
I-WHO! Iinkonzo zeteksi kunye nokuhanjiswa kokutya kwe-Aggregatoto, kunye nezicelo zeselula kubo.Nini? Ifudukele ixesha elingapheliyo.
Kwizicwangciso zokwenza i-IPOXEEX.TAXI, iNkampani ibhengezwe ekuqaleni kuka-2019. Nangona kunjalo, emva koko, ngoNovemba 2020 yandex yalile ukubeka iteksi.
UGreg Asvsky, osebenza ngokusebenza kunye nowezezimali kunye nezemali yeYandex, wathi: "Siyabona ukuba iqonga le-Yandex, eliye ladalwa, liba ngcono ngenxa yengqibelelo yabo. Ke ngoko, ipo yenkonzo yeteksi ayiqwalaselwa. "
Kwimeko yokubekwa kweYandex.Taxdi kukho amathuba aphezulu okuba kuya kuba kumanqaku aphezulu kunemarike ebekwe kwizabelo zakwaYandex. Ngokuchasene nale meko, iikowuti ze-Yandex ziyakhula. Nangona kunjalo, ngenxa yokudluliselwa kwe-IPO yexesha elingenasiphelo, akufanelekanga ukuyisebenzisa njenge thessis yotyalo mali.
Ivi.
I-WHO! Inkokeli yentengiso kwi-intanethi kwi-cunemas kwiRussia.
Nini? Ifudukele ixesha elingapheliyo.
UMSEBENZI IVI, OLEG tumanov, uphinda athethe ngokuqhubekayo malunga nenkampani ekutshintshisweni kwesitokhwe. Ngenxa yoko, inkampani yayilungiselela ukufaka imarike ekuqaleni kuka-2021: ekupheleni kukaNovemba 2020, yaziwa ngezicwangciso zokuya eNasdaq.
Emva koko ukufakwa kwahlehliswa ngenxa yetyala lika-Anton Gorelkin ngokusikelwa isabelo sabaphambukeli kwi-intanethi ye-intanethi. Ngokutsho komthetho oyilwayo owenziwe nguSekela-2007, 2020, ukuba isabelo sabaphambukeli kwi-intanethi kwi-intanethi iya kuba ngaphezulu kwe-20%, ke inkampani inyanzelekile ukuba ichaze ukuba kunokwenzeka ubunini beKhomishini yaKhe.
Inkampani ithatha indawo ekhokelayo kwimarike ye-intanethi ye-intanethi ene-23% kwiinyanga ezingama-6 20. Kwangelo xesha, inkampani ikhulisa ingeniso yentengiso yentengiso kwiinyanga ezi-6 zokuqala I-2020. Yiyo loo nto, i-Ivi Resovenue inyuke nge-58% y / y yeenyanga ezingama-20, ukuya kwi-4,3 yezigidigidi.
Inkampani yinkokeli yentengiso kwaye ibonisa ukukhula okukhulu. Kwangelo xesha, kuyaphumelela ukugcina izikhundla, nangona kukhuphiswano lwezinto ezinzima kwi-OKko (i-sberbank yeasethi (i-MCX: i-filbex). Izikhundla ezomeleleyo ziya kwenza ukuba inkampani ibe yi-ADEM eyamkelekileyo kwimakethi eyintloko.
Iziphumo zeshishini kwi-IPO ziya kunika abatyali mali ithuba lokutyala kwinkampani yokukhula enamandla esebenza kwimarike yaseRussia. Akukho baninzi aba badlali ngoku.
Iplatopus
I-WHO! Inkokeli yemakethi kwicandelo lokuhanjiswa kokutya kunye neempahla ezinxulumene ne-E-Commerce yaseRussia.
Nini? Akukho zicwangciso zikhethekileyo.
Kude kube ngo-Epreli 2020, inkampani yayiyinkokeli engenammiselo yentengiso yokuthengiswa kwe-intanethi, kodwa emva koko i-Wkonos yothuka kwi-X5 yeQela leTritail (MCX: i-5dmarr) kunye ne-sbermat) kunye ne-sbermat) kunye ne-sbermatt. Izabelo ze-utona, x5 kunye ne-sbermat ye-10%, i-12% ne-11%, ngokulandelelana.
I-WKonkos inyuse i-turnover kwiinyanga ezisithoba zokuqala ezingama-2020 ukuya kwi-11.6 yezigidigidi. (+ 66% g / g) ngokuchasene ne-7.0 yeebhiliyoni. Kwiinyanga ezili-9 zika-2019. Umlawuli wenkampani wathi nge-2023 inkampani inokufikelela ukophula-kwana. Okanye mhlawumbi ngaphambili.
UMlawuli-Jikelele we-Utonos uthe ngoNovemba we-2020 ukuba ngoku inkampani ayicwangcisi ukuya kwi-stock yotshintshiselwano. Kwixa elizayo, ithuba elinjalo linokuxoxwa, kodwa namhlanje azikho izicwangciso ezinjalo.
Iziphumo zenkampani kwi-stock yotshintshiselwano zinokuba ngumqhubi oqinisekileyo wezabelo zeribhoni. Oku kuyakwenzeka ukuba imakethi iyakubona ibali leshishini elidibeneyo legazi kunye neribhoni. Eli bali linokunikwa ingqalelo enkulu ngexesha lokubekwa, ngenxa ye-syneries, enokuthi ziziswe kuzo zombini iinkampani.
Kwimeko apho ukudityaniswa okanye ukuphuculwa kwe-ventring ye-Meenti (i-Geenthere) phakathi kwe-ribbon kunye nokusebenza kwamanzi kwenzeka ngaphambi kokubekwa, indawo yenqwelomoya iya kuba nefuthe elikhulu ngakumbi kwiteyiphu. Iya kudityaniswa nokuxelwa kwexabiso lodonga. Ubukhulu becala, oku kuya kubangelwa yinto yokuba abathengisi abakwi-intanethi bathengiswa ngakumbi kwii-Multiprippipping ezibi kakhulu kunesiqhelo.
Kwakhona, iNkampani inokunyanzelisa ukhuphiswano lwe-ozon kwimali yomtyali mali. I-WKonkenkos ngumdlali omkhulu kwimarike yokuthenga yokutya, ukuqhuba ii-odolo ezingama-30% ngaphezulu kwe-ozon. Nangona kunjalo, ngokubanzi, i-ozon ngumdlali omkhulu ngenxa yokungabikho kwezakhiwo kwintengiso enye. Ngaphandle koku, amaqondo okukhula asondeleyo (+ i-66% g / g ngokuchasene ne-70% Y / Y kwiZithuba zeNkokheli ezingama-20), zinokubangela ukuba kutheni abanye abatyali-mali bezenzele izabelo ze-Uzonos. Oku kuya kukhokelela ekuweni komntwana kwizabelo ze-ozon.
Uloyiso
I-WHO! Esona siguli sikhulu se-leroline eRussia.Nini? Ulibazise ngokungapheliyo.
Ngo-2019, i-Aeroflot Ceto ibisithi iZicwangciso ze-Aeroflotot zokubamba i-ipo ye-25% yekomishini yoloyiso. Nangona kunjalo, ukusukela oko inkampani itshintshe uMlawuli. Kutshanje, wenza ingxelo yokuba okwangoku uloyiso aluchazwanga.
I-Sabur
I-WHO! I-SIBUR-Iqela leoyile elihlanganisiweyo le-oyile kunye ne-chemisticy yegesi yegesi.
Nini? Ayaziwa.
Amarhe malunga nokuphuma kweSibur kwi-IPO sele ejijekile ixesha elide. USibur wayelungele i-IPO emva ngo-2018, kodwa ekubeni elo xesha isigqibo sokungena kwintengiselwano ayizange yamkelwe. NgoFebruwari ngo-2019, uConov watsho ukuba emva kokuqalisa i-Zapapsifte Strest, kuya kubakho i-ipoves engaphezulu kwe-IPO, kwaye ngehlobo lama-2020, kuthathwa njengexesha lokuthengiselana elingafanelekanga, ngenxa ye-condemic kaCoronavirus.
Emva kokuqeshwa kukaPeter O'Brien, owayesakuba ngumphathi omkhulu waseMorgan Stanley (NYSE: NgoSeptemba 2020, iNtloko ye-Sabur Dhitmay Konov igxininiswe ukuba inkampani ilinde ukuba inxalenye ethandwayo yezinto ezintathu: Ingxelo yemali, yezemali.
Ingeniso yeNkampani kwiinyanga ezili-9 ze-2020 nge-369.4 yezigidigidi. (-6.6% y / y), i-ebitda ifikelele kwi-122.0 yeebhiliyoni. (-3.3% g / g).
Data
I-WHO! Ivenkile yenethiwekhi yokutya okunempilo.
Nini? Ngaphambi kweminyaka engama-2021.
Enye inkampani yaseRussia, eceba ukungena kwi-American Exchange kwi-American Stock, yipain yeevenkile zamasela. Ngokuka-Andrei Kivernkdo, umsunguli wenkampani, isigqibo sokugqibela asikamkelwanga, kodwa indawo ithathelwa ingqalelo kwi-York kunye nesitokhwe se-moscow.
Kufanelekile ukuba uqaphele ukuba i-thawella ngoku ikwincopho elandelayo yophuhliso lwayo. Okokuqala, ngexesha lobhubhane kunye nendawo yokuhlala, inkampani inyuke i-intanethi yokurhweba kwi-1% ukuya kwi-15% yemveliso ephambili kwi-Russia, kwaye ingeniso ye-47% y / y kwisiqingatha sokuqala se-2020.
Kwangelo xesha linye kwisayizi epheleleyo, inkampani ihamba kancinci emva komnye umvelisi weshishini lentengiso eqhutywa yi-IPO-Ixabiso le-lungisa. Ke, eDarvotville, ingeniso ngo-2019 ifikelela kwi-83 yeebhiliyoni. ngokuchasene ne-142.9 yeebhiliyoni.
Ukongeza, inkampani ingena ngokusebenza ngokuthe gabalala kwiimarike zasentshona: Ivenkile sele isebenza eParis, enye eAmsterdam, ukuvulwa kwamanqaku angafakwanga kwi-Europe kunye ne-China kuyaxoxwa.
Okubangela umdla, ngo-2019 inkampani yafumana iibhiliyoni ezi-3 zeebhiliyoni. Inzuzo ye-NET kwi-82.5 yezigidi zeerandi. Ingeniso kwaye ithumele iibhiliyoni ezi-2 zeebhiliyoni. kwintlawulo yezahlulo. Inkampani ibisebenza iminyaka emi-5 ngaphandle kweminyaka engafezekanga.
I-sovcombank
I-WHO! Ii-asethi ezintathu ezinkulu zebhanki yabucala eRussia.
Nini? Ngaphambi kweminyaka engama-2021.
Inkampani iya kwi-ipo ukusukela ngo-2018. NgoFebruwari 2020, i-reuters inika ingxelo yokuba i-Sovcombank ilungiselela i-IPO phakathi konyaka kwaye sele ikhethwe yiGoldman Sachs, i-JP Morgan kunye nabaququzeleli bendawo yokuhlala, kunye neqonga lendawo yokuhlala.
Nangona kunjalo, le ngxaki yathintela ezi zicwangciso, kwaye ngo-Epreli waqala usekela-sihlalo weBhodi yeBhanki yathetha malunga ne-IPO: "Kulo nyaka-kukho lo nyaka - ukuba asikho, oko kukuthi, kusenokubakho Imeko apho kunyaka olandelayo kusenokubakho windows kwi-IPO. "
Inkampani ibonisa ukukhula okukhawulezayo kwiibhanki zikawonke-wonke. Ngenxa yoko, inani labathengi abathengisa abakhuselweyo ukuya kwi-8.1 yezigidi zabathengi ngokuphela kweenyanga ezingama-9 20 (+ 29% nge-31 kaDisemba, 2019). Usizi Inzuzo ye-2020 yokuqala ye-2020 yenyuke nge-21% Y / Y kwaye yaya kwiibhiliyoni ezingama-22 zeerandi, kwaye ngo-2019 inyuke nge-70%: ukusuka kwi-15% yeebhiliyoni. ukuya kuthi ga kwi-30.1 yeebhiliyoni zeenkampani.
Ngokoluvo lwethu, ezona zimvo zinomdla kakhulu kwiindawo zokuhlala ezizayo zezi zilandelayo:
- Inkqubo ye-AFC inokubonisa ukukhula okuphambili kwiminyaka embalwa ezayo ngenxa yokubekwa kwezinto ezininzi zexabiso. Eyona nto iphambili kwiqela laseSegezha, iMedsi kunye ne-steppe.
- I-IPO ye-Airpoge inokuthi ichaphazele ngokuthe ngqo iikowuti zeribhoni kuphuhliso lwembali kunye ne-synergies phakathi kweenkampani ezimbini. Kuyenzeka ukuba ukhathalele kwizabelo ze-ozon ngenxa yokuba abatyali mali baya kuthatha isigqibo sokudlala imeko ye-e-Commerce ngenkokeli yecandelo layo.
Inqaku libhalwa ngokubambisana nohlalutyo nikolai chikvashvili
Funda amanqaku asekuqaleni: