Russian cybersecurity solutions developer Positive Technologies will not make an initial public offering (IPO) on the stock exchange – instead, the company will carry out the listing procedure without issuing new shares and collecting an order book. On November 15, the founder and co-owner of Positive Technologies, Yuri Maksimov, announced the option of entering the stock exchange through a “technical listing” at The Standoff cybersecurity forum. The company plans to be in time with the placement by the end of 2021. According to Vedomosti’s source familiar with the situation, the Moscow Exchange will become the platform. The listing procedure allows securities to be included in quotation lists.
As part of encouraging employees and contributors to the company’s development, Positive Technologies distributed about 10% of its shares to 1,500 people (about 1,000 current employees and 500 former employees), Positive Technologies COO Maxim Pustovoy told Vedomosti on the sidelines of the forum. It is they who, if they wish, will sell the securities. According to Maksimov, the company expects demand from 40,000-50,000 private investors-individuals. He noted that if the main shareholders sell their shares, then a small share. The company itself does not plan to make money on this.
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