MOSCOW, September 27 - PRIME. The oil products marketplace "Open Oil Market" (a Skolkovo resident) plans to conduct an initial public offering (IPO) on the stock exchange in the first half of 2027. The company is currently focused on pre-IPO activities, raising 1 billion rubles for the development and scaling of the project, the company's press service told RIA Novosti.

"At the moment, Open Oil Market JSC is conducting a pre-IPO round, raising 1 billion rubles for the development and scaling of the project. The IPO is scheduled for the first half of 2027," the statement said.

By 2027, the marketplace plans to increase its annual trading volume to 736 billion rubles and achieve a 22% market share of the overall small wholesale oil product market.

It is noted that the annual trading turnover of Open Oil Market has increased 2.7 times since 2021, reaching 5.9 billion rubles in 2023. As of the first half of this year, the indicator grew another 13%.

The total trading turnover of the platform since 2021 has reached 12.9 billion rubles, and the number of users exceeded 3,000.

Open Oil Market is an independent B2B marketplace (sales from legal entity to legal entity) selling oil products and other raw materials. The company started full-scale operations in 2021. The most in-demand product on the platform is diesel fuel, which accounts for 75% of sales. Gasoline makes up another 16%, with the remaining 9% distributed among other oil products, as well as sand and clay, which are also part of the marketplace's range. In September of this year, the marketplace sold its 200,000th ton of fuel.




Translated using ChatGPT

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