Shares of Ozon (NASDAQ:OZON) stock are off to a slow start on Wednesday morning. Nonetheless, the upward trend in Ozon stock is there, and it comes from strong gains following the firm’s initial public offering (IPO) on Tuesday.
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The Russian e-commerce company announced its IPO on Tuesday, and OZON stock crushed its first day on Wall Street. In fact, OZON stock rose about 40%. And that is great news for the first Russian IPO to list on U.S. domestic exchanges since early 2019.
That said, let’s dive in and take a closer look at the Ozon IPO in depth:
- The IPO features the firm offering 333 million American Depositary Shares (ADS) at $30 per share.
- According to a number of outlets, $30 per share is above the previous guidance range between $22.50 to $27.50 per share.
- In total, Ozon Holdings will look to raise around $1 billion through this move.
- Additionally, according the the release, Ozon opened shares to institutional investors up until Friday — “subject to customary closing conditions.” And now, OZON stock is available to the public for trading on the Nasdaq Exchange.
OZON stock was up less than 1% as of Friday morning.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick is a web editor at InvestorPlace.