“It’s not us who blew up the market, it’s a combination of factors”

2023-11-20 23:23:53

Infrastructure software developer Astra Group held its most impressive IPO of the year in mid-October. The vendor raised RUB 3.5 billion. with an estimate of 70 billion rubles. The order book was oversubscribed almost 24 times. Since then, shares of the IT company have risen by 56%. But, as experts note, Astra not only fulfilled its objectives – it opened the gates for mid- and small-cap companies on the new Russian stock market, which is under the control of a private investor. The group’s CEO and shareholder Ilya Sivtsev told Vedomosti why the company does not need money from an IPO, how to manage fellow shareholders and how hungry investors are.