Выход на IPO: зачем технологическому бизнесу публичность и как к ней подготовиться

On July 3, the Moscow Exchange hosted a practical seminar "Ticker Ready: Technological Business on the Path to IPO," inspired by the KAMA FLOW initiative and bringing together representatives of fast-growing tech companies.  

The main topic of this informal meeting was the public listing of technological companies—in the course of a lively discussion, participants addressed the key stages and strategic decisions in preparing for an IPO, specifics of working with retail investors, interaction with institutional investors, and practical case studies.  

The seminar was opened by Natalia Loginova, Head of the Issuer Relations Department at the Moscow Exchange, who spoke about the nuances of preparing for listing, requirements for companies, and existing support measures:  

"It’s necessary to make the decision to go for an IPO in advance. Right now, our market is in a very comfortable situation for preparing for publicity—as the interest rate decreases, the market will open up, and it’s desirable to complete all the preliminary stages before that moment. However, specific steps toward going public should be taken only after building a strategy and analyzing readiness for an IPO. Among the most common mistakes are incorrect valuation expectations, assembling the deal team, and insufficient communication with the market. A clear answer to what IPO gives to each particular company will help shorten the path to success in the public market."

Alexander Elizaryev, CEO of “Digital Habits” JSC, and Ekaterina Bushueva, Head of Investor Relations at Arenadata Group, shared stories about preparing their companies for IPO and gave practical advice to entrepreneurs, while Yulia Kim, Managing Partner at Polaris Capital, dedicated her speech to effective collaboration with institutions on the way to going public.

Investor and founder of the “Vredny Investor” channel, Nazar Schetinin, in his speech on how IPOs are perceived by retail players, emphasized that a private investor with a fixed behavioral model is a myth:  

"These are people with very different interests—for the speculative part of the audience, the first day of trading has special significance, for the second wave of investors who are ready to support the business in the long term, their own guarantees and approaches are needed. There is no 'Mr. Individual,' no need to generalize."

KAMA FLOW partner Pavel Okhonin, who not only spoke but also acted as moderator, emphasized the importance of external investors for the growth and transformation of technological business at the pre-IPO stage:  

"In the coming years, we expect active development of the public placement market for small and medium capitalization tech companies. This, in turn, is an alternative source of liquidity for early-stage investors compared to M&A deals. Around the world, most companies going public have attracted venture or private equity financing, and we believe this trend will be relevant for Russia as well."

During the meeting, participants had the opportunity to ask questions, hear assessments of individual companies' positions, and discuss the "pitfalls" of preparing for publicity.

 

KAMA FLOW expresses gratitude to the Moscow Exchange, speakers, and guests for their support, expert participation, and cooperation.