RDIF and Baring Vostok invest in Russian e-commerce leader Ozon at IPO
Moscow, November 25, 2020 – The Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund) participated in the initial public offering (IPO) of Ozon, the leading e-commerce company in Russia, alongside Baring Vostok – one of the major shareholders of Ozon.
Ozon is the only publicly-traded Russian e-commerce company. It demonstrates one of the highest growth rates in the online retail market and represents more than 18,000 merchants. The company provides customers with access to a catalog of more than 9 million products across 24 categories. Ozon's fulfillment infrastructure exceeds 200,000 square meters.
Ozon has been showing strong growth for several years. The top-3 players only represent 18% of the Russian e-commerce market, which opens up prospects for significant further growth of Ozon's business. The coronavirus pandemic did not hinder, but, on the contrary, propelled Ozon’s expansion (GMV showing 142% YoY growth in 9 months of 2020A). The Company’s best-in-class fulfillment and delivery system enables Ozon to service consumers with same day delivery in the largest Russian cities, as well as having the ability to cover over 40% of the population with next day delivery.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund, commented:
“Ozon’s initial public offering provided a good opportunity to make a second joint investment in six months with our long-standing and reliable partner - Baring Vostok, and we are eager to build on our partnership in the future.
Online-orders for goods and demand for their delivery has increased significantly amid the coronavirus pandemic, and the wide range and speed of services provided by the Company have allowed Ozon to significantly increase its presence throughout the country. High levels of interest in Ozon’s public offering were demonstrated by foreign investors during the placement, which is a testament to the success of the company's strategy and expectations of further steady growth in the actively expanding Russian e-commerce market”.
Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Currently, RDIF has experience of the successful joint implementation of more than 80 projects with foreign partners totaling more than RUB1.9 tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 800,000 people and generate revenues which equate to more than 6% of Russia’s GDP. RDIF has established joint strategic partnerships with leading international co-investors from more than 18 countries that total more than $40 bn. Further information can be found at rdif.ru
For additional information contact:
Arseniy Palagin Andrew Leach / Maria Shiryaevskaya
Russian Direct Investment Fund Hudson Sandler
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