Forbes: Delimobil postponed its IPO due to low demand for securities to the stock exchange and postponed the IPO to 2022 due to low demand for securities. Forbes calls this reason for the cancellation.
Referring to three sources, the publication notes that the company did not have time to close the order book. One of Forbes' interlocutors said that the company faced poor demand while collecting bids from potential IPO participants within the announced price range of $ 10-12 per share.
Another source indicated that terminal value (the cost of all future cash flows of the share) is 80 percent due to the fact that Delimobil may start working in the future, but not the fact that this will happen.
In general, the business model of the service raises questions among investors against the background of government influence ( the company depends on state regulation, since it receives subsidies for parking) and competition with Yandex, which may become the market leader. In addition, there is a problem with cars: the cost of cars is rising against the backdrop of the semiconductor crisis and the shortage of chips. For his part, a representative of Delimobil told Forbes that the company had re-signed the order book and was generally satisfied with the pool of investors.
The postponement of Delimobil's IPO became known on November 4, based on market conditions. The offering price range was announced at $ 10-12 per share, so the company could raise $ 200-240 million on the IPO or $ 230-276 million if the option is exercised.