OREANDA-NEWSRambler Group is planning to enter the stock exchange, General Director Rafael Abrahamyan told the Russian media on the sidelines of the Renaissance Capital Annual Investor Conference on Monday, June 24. “We have such a plan, I would even say that this is Plan A for the company to become public in two or three years, having increased to a size worthy of a good placement by that time”, said Abrahamyan.

According to Abrahamian, the Exchange’s IPO in the Rambler Group hasn’t been discussed yet, and the period of two to three years is determined by the current growth rate of the Rambler Group and, in particular, by the fact that Okko online cinema revenue doubles annually, and According to Abrahamian, the company's media assets add 20-25% per year.

According to him, the Rambler Group shareholders have thought about the IPO (Initial Public Offering, initial public offering) even when distributing shares in the company. “Both our decision as A & NN, and Sberbank initially had that Sberbank would not have a controlling stake in the Rambler Group, because in some sense this would complicate the company's IPO”, explained the general director of Rambler Group.

At present, the A & NN investment holding Alexander Mamut and Sberbank each hold a 46.5% stake in the Rambler Group, and another 7% is owned by Era Capital (before the merger, Okko was owned by Rambler). The company announced the appointment of Abrahamian as the general director of the Rambler Group on June 3, 2019.

In a conversation with the media reporter on Monday, Abrahamyan said he was leaving the A & NN investment fund, where he had been supervising the development of technological and Internet assets since 2012 in order to concentrate on working at the Rambler Group in order to avoid a conflict of interests between the fund and the company.