Today, National Press Center of the Republic of Belarus hosted the press-conference, where Gurtam management announced the upcoming entrance to the IPO. New York Stock Exchange (NYSE) is considered to be the most suitable placement for the company shares, where in the short run the bids for Gurtam shares under the ticker «GURT» will be opened.
Therefore, Gurtam will become the second, after EPAM Systems, Belarusian company, represented in the world stock market.
Gurtam is planning to invest the attracted funds to the company-wide objectives, such as working assets bulking, the development of the products, to which the company have paid less attention recently, as well as invest to the innovative technologies and acquisition of companies, allowing Gurtam to broaden the range of available products.
Aliaksandr Kuushynau, Gurtam CMO, commented on the decision: «Lately, Gurtam has been growing really very fast, becoming one of the leaders in the number of tracking units, both in CIS countries and all over the world. We gathered the community of more than five hundred companies, engaged in GPS vehicle tracking in different places of our planet, community, including thousands and thousands professionals, representing the driving power for our development. Placing Gurtam shares publicly, we make a step towards out partners, because from now they get a fabulous opportunity to own the company shares, as well as take part in the decision making. And it’s not surprising, because the most suitable equivalent to the Belarusian word «gurtam» means «together».
Citigroup, UBS Investment Bank and Barclays Capital will organize Gurtam shares placement and be the book-runners. Being guided by social profile principles, the first Gurtam shares emission will be distributed among the company employees, working either in Minsk, Moscow and Kaunas offices. «And I’m sure that very soon our shares will significantly go up in price, and won’t share the same fate with one of the Russian GLONASS/GPS companies, which shares drastically depreciated after having entered the IPO», — added Aliaksandr Kuushynau and wished everyone a Happy April Fools’ Day!