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PUBLIC JOINT-STOCK COMPANY MOSCOW EXCHANGE MICEX-RTS

(MOEX)
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Public Joint Stock Moscow Exchange MICEX RTS : Russia's Renaissance Insurance eyes $1 billion IPO in Moscow -source

09/03/2021 | 01:12pm EDT
A view shows the headquarters of Moscow Exchange

MOSCOW (Reuters) - Renaissance Insurance Group is planning to hold an initial public offering on the Moscow Exchange potentially as early as this autumn, a source familiar with the preparation for the listing told Reuters on Friday.

The source, who asked not to be named due to the sensitivity of the issue, said Renaissance Insurance "could seek a valuation of around $1 billion" in the Moscow IPO.

Renaissance Insurance could announce its intention to hold the IPO before the end of September, Interfax news agency reported, citing unnamed sources.

Renaissance Insurance, which was founded in 1997, declined to comment on Friday. Boris Jordan is the company's president and board chairman.

In June, the company said it was "evaluating various strategic options which may include an initial public offering of Renaissance Insurance Group JSC on the Moscow Exchange."

(Reporting by Andrey Ostroukh, editing by Louise Heavens)


ę Reuters 2021
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Financials
Sales 2021 51 407 M 729 M 729 M
Net income 2021 27 032 M 383 M 383 M
Net cash 2021 122 B 1 723 M 1 723 M
P/E ratio 2021 14,6x
Yield 2021 5,85%
Capitalization 393 B 5 578 M 5 573 M
EV / Sales 2021 5,28x
EV / Sales 2022 4,70x
Nbr of Employees 2 045
Free-Float 77,4%
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Mean consensus OUTPERFORM
Number of Analysts 11
Last Close Price 174,20 RUB
Average target price 190,27 RUB
Spread / Average Target 9,23%
EPS Revisions
Managers and Directors
Yuriy Olegovich Denisov Chief Executive Officer
Maxim Vyacheslavovich Lapin Chief Financial Officer
Oleg Vyacheslavovich Viyugin Chairman-Supervisory Board
Andrey Anatolyevich Burilov Chief Information Officer
Dmitry Viktorovich Shcheglov COO & Executive Director-Operations