The Moscow-based kicksharing platform Whoosh is planning to hold an initial public offering (IPO) on the Moscow Exchange, with a placement volume of up to 5 billion rubles ($68 million). The company’s capitalization following the IPO is expected to reach 25 billion rubles ($340 million).
The operator of the kicksharing service Whoosh, PJSC “WUSH Holding”, has announced the details of its upcoming initial public offering (IPO) on the Moscow Exchange. The shares will be traded under the ticker symbol WUSH, with a price range of 185 to 225 rubles per share. During the IPO, a total of up to RUB 5 billion in shares will be sold, with up to RUB 2.5 billion coming from an additional placement and up to RUB 2.5 billion coming from existing shareholders looking to create liquidity in the secondary market.
The company, which was founded in Moscow in 2019, has seen rapid growth in the past few years, thanks in part to the increasing popularity of electric scooters as a means of urban transportation.
Whoosh’s e-scooters are available for rent through a mobile app, and can be picked up and dropped off at designated locations throughout the city. The company currently operates in over 50 cities across Russia, and plans to expand to other countries in the near future.
The company’s success is due to its focus on customer convenience and sustainability. The Whoosh e-scooters are easy to use, affordable, and help reduce traffic and pollution in crowded cities providing a convenient and eco-friendly transportation option for people living in urban areas.”
The company’s public offering is expected to raise significant funds for the expansion and further development of its technology. Whoosh plans to use the money to add more e-scooters to its fleet, as well as to invest in research and development to improve the reliability and performance of its scooters.
Whoosh’s IPO is the latest example of the growing popularity of e-scooters as a transportation option. As cities around the world grapple with issues of traffic congestion and air pollution, many are turning to electric scooters as a way to reduce emissions and provide a convenient alternative to cars. With its successful public offering, Whoosh is well-positioned to continue its rapid growth and become a leading player in the global e-scooter market.
