|Over a week ago|
HeadHunter 5M share Secondary priced at $20.25 » 19:2307/1507/15/20
The deal priced below the…
The deal priced below the last closing price of $20.50. Goldman Sachs, Morgan Stanley, Credit Suisse and VTB Capital are acting as joint book running managers for the offering.
HeadHunter files to sell 5M American Depositary Shares for holders » 17:2207/1407/14/20
Goldman Sachs & Co.,…
Goldman Sachs & Co., Morgan Stanley & Co., Credit Suisse Securities, and VTB Capital are acting as joint book running managers for the proposed offering.
HeadHunter board approves secondary listing of ADSs on Moscow Exchange » 06:2107/1307/13/20
HeadHunter Group announced its Board of Directors has approved secondary listing of the company's American Depositary Shares on the Moscow Exchange. The company's Board of Directors has approved the secondary listing of the company's ADSs on the Moscow Exchange, with the aim to expand the company's investor base, including Russian investors who are not present on the Nasdaq Global Select Market. Considering the time required for the preparation and registration process, and, subject to approval by the Moscow Exchange, trading of the company's ADSs on the Moscow Exchange is expected to commence in the beginning of the fourth quarter of 2020. Quotation and settlement will be in Russian rubles.
|Over a month ago|
HeadHunter files to sell 31.25M American Depositary Shares for holders 16:1606/3006/30/20
HeadHunter files to sell $100M of American Depositary Shares 16:1606/3006/30/20
Putin proposes tax cut for information technology companies, Bloomberg says » 11:2306/2306/23/20
YNDX, MBT, HHR
Russian President Vladimir Putin proposed during a televised address to the nation a tax cut for information technology companies, Blomberg reports. Putin also proposed raising Russia's income tax rate to 15% for those making over RUB 5M, Bloomberg adds.
HeadHunter downgraded to Sell from Hold at BCS Global » 10:5906/2306/23/20
BCS Global analyst Maria…
BCS Global analyst Maria Sukhanova downgraded HeadHunter Group to Sell from Hold with a price target of RUB 1,600, up from RUB 1,200. The analyst believes the stock is "fundamentally overvalued."
|Over a quarter ago|
HeadHunter to defer payment of interim dividend of 50c per share » 07:0804/1504/15/20
The company said,…
The company said, "Operationally, we benefit from being a fully digital business and all employees have been working remotely for several weeks, in line with our business continuity plan. To date, we have not experienced any material disruptions to our normal operations. Financially, we have a strong balance sheet, with a cash balance of RUB2.1B and a Net Debt / Adjusted EBITDA ratio of 0.8x as of December 31, 2019. Our subscription-based business model is highly cash generative, with an Adjusted EBITDA margin of 50.5% in 2019. Pre-paid revenue as of December 31, 2019 was RUB2.4B and we have low capex requirements. All of these factors allow us to maintain our cash position and preserve financial flexibility even in the case of a protracted economic downturn. However, we are implementing prudent operational control measures, such as substantially reducing all non-essential and discretionary operating costs, optimizing marketing budgets and limiting non-essential capital expenditures, including office renovations. None of these actions are expected to impact business continuity nor our ability to execute our long-term strategy. However, they are undertaken out of prudence and will allow us to address potential temporary challenges that could arise from the instituted quarantine period in Russia. Taking into account the current level of uncertainty, including the possibility of a longer duration of the quarantine measures in Russia, the Board of Directors has taken a decision to defer until further notice the previously announced payment of an interim dividend of 50c per share, which had been scheduled for payment by April 20, 2020. Both the amount of the dividend as well as the dividend record date of March 27, 2020 will remain unchanged. We recognize that this is a significant step to take. However, due to the extraordinary current environment and until such time that there is visibility on a more stable, sustainable market environment in which the business outlook can be assessed in a normalized way, we consider preserving our liquidity to be a prudent precautionary measure. We will closely monitor the evolving situation and keep our shareholders up to date on the dividend payment date. Currently, our next such update is expected to be with our first quarter financial results disclosure."
HeadHunter withdraws 2020 guidance » 07:0604/1504/15/20
HeadHunter Group announced several actions related to its response to the rapidly changing market environment from the COVID-19 pandemic. The company said, "Like many companies around the world, we are facing an unprecedented level of uncertainty with respect to our business outlook for 2020 due to the spread of COVID-19 and associated government measures taken to combat the virus. Russia is currently expected to remain under lockdown at least until the end of April and there is significant uncertainty as to the extent of the nationwide spread of the virus as well as its impact on overall economic activity. Over the past few weeks, the COVID-19 situation has begun to impact the recruitment market dynamics in Russia and we have observed significant decreases in employers' and candidates' activity on our platform. While we continue to monitor the situation closely, it is too early to accurately predict the financial impact of the COVID-19 pandemic on our business. Given the current high degree of uncertainty, we believe the 2020 market guidance we issued on March 13, 2020, which reflected the information available to us at the time, does not retain its validity for the near term and, therefore, we withdraw it. We will aim to provide additional details regarding 2020 financial guidance as soon as there is greater clarity on the impact of COVID-19 on our business and the broader Russian economy."
HeadHunter price target lowered to $15 from $16 at JPMorgan » 12:2303/1103/11/20
JPMorgan analyst Alexei…
JPMorgan analyst Alexei Gogolev lowered the firm's price target on HeadHunter to $15 from $16 and keeps an Underweight rating on the shares.