Developer GloraX successfully raised 2.1 billion rubles during the IPO, placing shares at 64 rubles per paper, which corresponds to a capitalization of about 18.1 billion rubles. Funds raised will be used to implement a long-term growth strategy, expand regional presence, reduce debt burden and achieve corporate goals. If the share price is lower than the offering price after 12 months, investors will be able to sell the shares back to the company at a premium of 19.5% to the IPO price.