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Russia – Jobs website operator HeadHunter begins trading publicly

09 May 2019

HeadHunter Group plc (HHR: NSDQ), a Moscow-based job board operator, began trading shares Thursday on the US Nasdaq Stock Market in an initial public offering and rang the market’s opening bell.

The company’s website offers job postings and a CV database. The site has 20.0 million unique visitors per month, according to a filing with the US Securities and Exchange Commission. HeadHunter operates in Russia as well as Kazakhstan and Belarus.

Revenue in 2018 was RUB 6.12 billion (USD 88.2 million). Net income for the year was RUB 462.8 million (US$6.7 million), according to the filing. HeadHunter was releasing 16.3 million American Depositary Shares.

According to SIA’s Online Job Advertising Landscape published in December 2018 (available to members), HeadHunter was the 18th largest online job advertising firm globally based on revenue.

HeadHunter is the first Russian IPO on a US exchange since 2013, according to Nelson Griggs, president of the Nasdaq Stock Exchange. The shares are currently trading at  USD 15.75. This means a market capitalisation of USD 787.5 million.