December 20, 2017 / 3:05 PM / 6 months ago

Russian IT services company IBS considers IPO in 2018 - sources

MOSCOW (Reuters) - Russian information technology services company IBS is considering holding an initial public offering in 2018, two financial market sources and a source familiar with the company’s plans said on Wednesday.

IBS, which provides services ranging from designing IT infrastructure to systems integration and information security, has yet to decide on the size of the offering and hire banks to handle the deal, the sources said.

IBS declined to comment on specific plans.

“The company is considering various options for business development and the full range of available instruments to fund growth,” it said in emailed comments citing Yevgeniy Peskin, the deputy chief executive for strategy.

IBS’s co-owner and founder Anatoliy Karachinskiy was quoted by Russian media outlet RNS as saying in June IBS could hold an IPO within two years on the Moscow Exchange (MOEX.MM).

Founded in 1992, IBS is one of Russia’s biggest IT services companies. Its clients include some of Russia’s biggest companies and government institutions, including oil major Rosneft (ROSN.MM), lender Sberbank (SBER.MM) and the finance ministry.

The company delisted from the Frankfurt Stock Exchange in 2014, having spun off the Luxoft (LXFT.N) unit which floated on NYSE in 2013.

Reporting by Olga Popova, Maria Kiselyova and Darya Afanasyeva; Writing by Maria Kiselyova; Editing by Louise Heavens

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