Baker McKenzie advised Public Joint Stock Company "GLOBALTRUCK MANAGEMENT" (the "Company") in connection with its initial public offering of ordinary shares (the “Offering”).
The total Offering amounted to RUB 3.85 billion, assuming full exercise of the over-allotment option. The Offering implied the market capitalization of the Company's post-Offering of RUB 7.72 billion. The Company raised approximately RUB 2.57 billion in net proceeds from the Offering, which will be used to support its growth. The Offering received strong interest from a wide range of investors across all regions in which the shares were offered and approximately half of the Offering was allocated to institutional investors outside Russia. The Russian Direct Investments Fund and a group of international sovereign wealth funds subscribed to approximately 39% of the Offering (19.4% of the Company’s share capital).
The Company’s shares are included in the Growth Sector (Level 2 listing) on the Moscow Exchange. BCS Global Markets and Citigroup Global Markets Limited acted as Joint Global Coordinators and Joint Bookrunners.
The Baker McKenzie team on the project included Dmitry Dembich, Roy Pearce, Adam Farlow, Olga Ehrman and Adil Guseynov.
The Company is one of the largest FTL operators in Russia and the leading trucking operator in the Urals and Siberia, as measured by average fleet size, according to MegaResearch.
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