GloraX shares rise amid reports on buyback offer for IPO investors

GloraX shares rose as much as 6.33% to 42.5 rubles at the start of the main trading session on October 21. By 10:53 Moscow time, the gain had narrowed to 1.9% and the price was 40.73 rubles, according to Moscow Exchange data reported by RBC.

The move accompanied reports on a buyback offer by Antares, a development subsidiary of GloraX. The offer price is 76.48 rubles per share, 19.5% above the IPO price of 64 rubles.

The offer is linked to the October 2025 IPO and is subject to conditions. These include the weighted average share price falling below the IPO price in at least one of five consecutive main trading sessions in a control period a year after the offering.

Eligible holdings include shares acquired in the IPO and shares bought on the exchange within 30 calendar days from October 31, 2025, subject to the specified limit of 30 thousand shares. Kommersant reported that uninterrupted ownership until the final working day of the acceptance period is required.

GloraX raised 2.1 billion rubles in its IPO. The proceeds went to the company to develop its business.