Русский
The Bazis Group of Companies (recently known as Cloud Platform LLC), the parent company of Russian system software developer Bazis LLC, has been restructured into a Public Joint Stock Company (PJSC), a legal entity used for large-scale enterprises. Companies do this to allow an unlimited number of shareholders to invest in the business by offering shares publicly on stock exchanges.
David Martirosov, the Bazis CEO stated that the company could conduct an IPO by the end of the current year. “We are not ruling out the possibility of conducting an IPO by the end of the year. We are placing a very strong emphasis on how the market behaves, and we haven’t yet made a final decision.” He said that the decision would be made by the end of November.
Market analysts suggest that Bazis is planning to raise up to ₽5 billion (US$62 million). As part of the IPO, shares could be offered by two of the three shareholders of Bazis, who plan to put parts of their packages up for sale but do not plan to exit the business completely, Martirosov said. Rostelecom does not intend to reduce its stake in Bazis, he said.
According to a management report, Bazis LLC boosted its revenue 50% to ₽4.5 billion in 2024. The number of clients grew 30% and the number of projects implementing its solutions increased 2.2-fold to 160.
Russian national policy is to develop its own software operating systems to prevent reliance on Western developed technology which could be compromised due to sanctions. Russia is planning for 100% local development in core technologies across multiple sectors.
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