Russian tech company Arenadata plans to hold IPO in 2024

Arenadata, a Russian developer of data collection and storage platforms, intends to launch an initial public offering (IPO) on the Moscow Exchange in 2024, three sources in the Russian financial market told Reuters.

The company later said that it was considering an IPO, among various options, but gave no timeline.

"Arenadata is considering various business development opportunities and options to attract the best staff in the IT industry," Arenadata said in a statement to Reuters.


"Access to the public capital market is not excluded as one of the options. Moreover, we believe that such a step is a natural stage of development for any rapidly developing IT company," it said.