13/02/2007 Exchange welcomes leading technology provider Sitronics as the first major international company to join its Main Market in 2007
13 February 2007
Exchange welcomes leading technology provider Sitronics as the first major international company to join its Main Market in 2007.
JSC SITRONICS is a leading provider of telecommunication solutions, including software, equipment and systems integration, IT solutions and microelectronic solutions in Russia, the CIS and Central and Eastern Europe, with a growing presence in the Middle East and Africa.
The Company is headquartered in Russia and offers a broad range of products in key technology growth areas in their markets. SITRONICS serve over 3,500 clients, maintain offices in 25 countries and exports products and services to more than 60 countries.
Commenting on the company’s admission to the LSE’s Official list, Evgeni Utkin, SITRONICS’ Chief Executive Officer said:
“As the first technology company from Russia to list on the LSE, we are naturally very pleased with the success of our GDR Offering and the status that a London listing brings to the Company. The proceeds raised from the Offering will allow SITRONICS to further develop its strengths in all its markets.”
Sitronics has raised $350 million on its Initial Public Offering in London and Moscow. The offering includes 1.7 billion ordinary shares, of which 1.6 billion will be placed in the form of GDRs, with each GDR representing an interest in 50 ordinary shares.
Tracey Pierce, Head of International Business Development at the London Stock Exchange, said:
“Sitronics’ IPO today is another example of the vibrancy of the technology sector in Russia. We are delighted to welcome them to our markets, and wish them every success in their life as a public company.”
Credit Suisse, Goldman Sachs International and Renaissance Capital acted as Joint Global Coordinators and Bookrunners of the Offering. HSBC acted as Co-Lead Manager.