Leading Russian recruiter HeadHunter Group aims for $253M through US IPO

Russia's largest online recruiter supported by Goldman Sachs, HeadHunter Group PLC, has announced intentions to aim for $253 in capital through offerings American Depository Reciepts (ADSs) on NASDAQ between $11 and $13.50 per share.

The shares will be sold by existing shareholders ELQ Investors VIII Ltd, a subsidiary of The Goldman Sachs Group; Highworld Investments Limited, a subsidiary of Elbrus Capital Fund II; and Elbrus Capital Fund IIB, according to HeadHunter’s US SEC filing.

The shareholders are offering 16.3 million ADSs with the underwriters – Morgan Stanley, Goldman Sachs, Credit Suisse, VTB Capital, BofA Merrill Lynch, and Sberbank – given the option to purchase up to 2.4 million additional ADSs.

Founded in 2000, HeadHunter provides online recruitment services in Russia, Ukraine, Belarus, Kazakhstan, Azerbaijan, Lithuania, Latvia, and Estonia with a based in Moscow. Goldman Sachs and Elbrus Capital acquired HeadHunter from Mail.ru Group in 2016.

“We offer potential employers and recruiters paid access to our extensive curriculum vitae database and job postings platform. We also provide job seekers and employers with a value-added services portfolio centered around their recruitment needs,” the company said in its prospectus.

As of January 1st, 2019, HeadHunter said it was the third most visited job and employment website globally based on the latest data available from SimilarWeb.

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