March 23, 2018 / 2:08 PM / a month ago

Russia's IBS on track for $100 mln Moscow IPO in early April-sources

MOSCOW, March 23 (Reuters) - Russian information technology services company IBS is on track to hold an initial public offering on the Moscow Exchange early next month, aiming to raise around $100 million, three financial market sources told Reuters.

The company has hired Citi, Renaissance Capital and Sova Capital to arrange the deal, the sources said. It plans to offer both existing and new shares, one of the sources said.

IBS declined to comment.

The company’s chief executive said in January it was considering various fundraising options, after Reuters reported in December IBS was looking to sell shares in an IPO in 2018. (Reporting by Olga Popova; writing by Maria Kiselyova; editing by Katya Golubkova)

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