The trading group of companies "Oil Resource Group" plans to go public with an initial public offering (IPO) in three to four years, CEO Sergey Tereshkin told reporters.

"We want to go public in three to four years. The bond issuance is a small step in this direction. Transparency of the company, IFRS reporting, obtaining a rating – we are becoming more transparent and streamlining all internal processes," he said.

However, the company is not yet ready to disclose details about the possible IPO. "I am not ready to say which exchange we plan to list on or what share may be offered. We will see how much we grow during this time. We have plans, and we are working towards them," Tereshkin stated.

Currently, "Oil Resource Group" is preparing its debut bond issuance on the "SPB Exchange" – three-year securities with a seven-month put option and monthly coupon payments at a 14% rate, totaling 200 million rubles.

As Tereshkin told RIA Novosti, the group plans to issue another bond placement worth 500 million rubles by the end of the year.




Translated using ChatGPT