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.
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.