Whoosh, which made its debut on Wednesday, said that it had raised 2.1 billion rubles through the listing, giving it a valuation of 20.6 billion rubles . “In four years, we have gone from a startup to the leader of the Russian [scooter sharing] market, making electric scooter travel a familiar mode of transport,” Whoosh CEO Dmitry Chuiko said in a statement. But shares were priced on the low end of the company’s expected range.
Hundreds of Western companies — from oil giants and tech brands to carmakers, banks and fast food chains — have quit Russia this year. McDonald’s is now called “Vkusno i tochka”, or “Tasty, and that’s it,” and Starbucks cafes have reopened under the barely disguised brand Stars Coffee. The country’s main stock index is down 43% year-to-date, while US stocks are just 15% lower. Last year, there were six IPOs in Russia, according to data from Dealogic.
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