Russian online retailer Ozon targets $1 bln in US IPO

MOSCOW, Nov 18 (Reuters): Russian online retailer Ozon Holdings aims to raise nearly $1 billion in a US initial public offering (IPO) to capitalise on an e-commerce boom in Russia due to the coronavirus pandemic.

Like most e-commerce firms, Ozon has seen online orders surge as pandemic restrictions have kept people at home.

In a regulatory filing, privately-owned Ozon said it planned to issue 30 million American depositary shares (ADS) at between $22.50 and $27.50 each, raising up to $825 million.

If underwriters buy up to 4.5 million more ADS, Ozon might raise as much as $949 million, it said in the updated prospectus submitted to the US Securities and Exchange Commision (SEC).