If you’re looking for exposure to the Russian economy, this career site offers a direct “in.”
HeadHunter Group plc will issue more than 16.3 million shares on the Nasdaq under ticker HHR, according to the firm’s F-1 filing. Priced between $11 and $13.50, the offering represents 32.6 percent of outstanding shares and is expected to bring in about $253.13 million.
Underwriters include Morgan Stanley, Goldman Sachs, Credit Suisse, VTB Capital, Bank of America Merrill Lynch and Sberbank CIB.
The company qualifies as an emerging growth company and foreign private issuer, which exempts management from certain SEC disclosure requirements.
The online jobs site connects Russian companies with prospective employees.
Last year, it claimed to be the third most visited career site in the world with 20 million unique monthly visitors. The rate saw significant growth from 16.7 million in 2016 and 17.5 million in 2017.
HeadHunter’s cache of résumés grew rapidly from 22.1 million in 2016 and 26.4 million in 2017 to 36.2 million in 2018.
The CVs responded to daily average job postings of 244,000, 398,000 and 559,000, respectively.
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The 2018 posts came from 253,000 paying customers representing almost all of Russia’s industries.
The company expects to profit from projected growth in Russia’s GDP, internet reach and online recruitment market.
In 2018, HeadHunter recorded RUB 1.033 billion in income on revenue of RUB 6.118 billion. The rates represent significant growth from the previous year’s RUB 462 million in income and RUB 4.733 billion in sales.
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