Russia IT Company IBS Weighs Spinoff Via U.S. Share Sale
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IBS Group Holding Ltd., a Russian provider of information-technology services, is considering a spinoff of its software development unit Luxoft via an initial public offering in the U.S.
IBS Group weighed plans for a Luxoft IPO earlier this year to unlock value for investors and decided to delay an offer because of market conditions, President Anatoly Karachinsky said in an interview in his Moscow office. He co-founded Frankfurt-traded IBS and is also a shareholder.