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Russia’s Fabrika PO, a developer of AI-based software that operates under the FabricaONE.AI (F1AI) brand and is part of Softline Group , is planning an IPO in autumn, according to Fabrika PO CEO Maxim Tadevosyan.
Fabrika PO was planning to place its shares on the Moscow Exchange on April 30; however, it postponed the IPO due to an assortment of legal issues. Not long before the planned IPO, parent company PJSC Softline reported that the court had imposed interim measures on a range of its assets as part of bankruptcy proceedings for a company named Integration LLC. The investigations involved former shareholders of several legal entities acquired by Softline Group in 2023. Softline disputed the interim measures, and they were subsequently lifted.
Tadevosyan said, “We are in the process of receiving a credit rating. After this, the plan is as follows: the company will confirm its targets after the first six months, confirm its forecasts for both revenue and EBITDA, and then it will be ready to take part in a new roadshow as early as September-October, in order to ultimately realize its public status and place shares on the stock market – correspondingly, with a higher rating this time and possibly a lower key rate in the Russian economy.”
The company officially announced its plans to conduct an IPO on the Moscow Exchange on April 20, stating a preliminary price of ₽25 per share, corresponding to a market capitalization of ₽14 billion (US$197.5 million) excluding funds raised in the IPO. The book building was to be complete by April 29, and Fabrika PO shares were to start trading on the Moscow Exchange on April 30.
The indicative amount of the offering was at least ₽2 billion (US$28 million), corresponding to 80 million shares according to the stated IPO target: around 14% of the company’s charter capital excluding funds attracted. Investors were only offered shares from an additional share issue. The company planned to use all of the funds raised in the placement to fund future growth and scale the business.
Fabrika PO unites assets and expertise in the field of AI technologies, custom development and industrial software. According to the company’s prospectus, its largest shareholder is PJSC Softline with 68.5% of charter capital. Another 11.6% belongs to Softline subsidiary Investprojects LLC and 19.9% to the Axiom Capital closed-end mutual fund, managed by Balance Asset Management.
