Russia’s leading OTT service ivi has filed an application with US Securities and Exchange Commission (SEC) to hold an IPO.
Quoting a source close to the company and another among its partners, RBC reports that although a date for the offering has not yet known, it could take place in the first quarter of 2021.
Citing Reuters, it adds that Goldman Sachs and JP Morgan have been chosen to coordinate the offering.
Ivi’s founder and CEO Oleg Tumanov has previously spoken on a number of occasions about an IPO and two years ago said that it could take place in 2020 if the rouble did not collapse. However, active preparations for an offering only began at the beginning of this year.
Ivi’s revenues in the first half of this year amounted to R4.3 billion (€47.8 million), or 58% more than in the same period in 2019.
The company was launched in 2010 and raised $40 million from a consortium of investors in September 2019.
It also secured a loan of R3.7 billion from Alfa-Bank in June this year.