Positive Technologies’ share price increased by 27.8% in the first six hours of trading on the Moscow Exchange, the company said.
Today, December 17, the Group Positive, a cybersecurity company operating under the Positive Technologies brand, entered the Moscow Exchange in a direct listing mode. This is the first IPO of a cybersecurity company on the Moscow Exchange.
Kommersant announced plans for Positive Technologies to go public on March 16, and on April 15, the United States imposed sanctions against the company. In July, the company announced a change in management: one of the minority shareholders, Denis Baranov, was appointed to replace the founder, Yuri Maksimov.
In the direct listing mode, there is no preliminary pre-exchange transaction for determining the price, which means that the company’s value is determined directly in the exchange trading mode. As of 17:00, the trading volume exceeded 379 million rubles, while the price increased by 27.8% to the opening price, the company told Kommersant. At the moment, the shares are traded in the range of 980-985 rubles. per piece, which gives the company’s capitalization about 60 billion rubles.
Private investors show the main interest in secondary trading: the number of transactions has already exceeded 15.3 thousand, the press service reported. The exchange received a little more than 10% of shares owned by minority shareholders, the total number of selling shareholders is about 1.4 thousand people.
.