Russian online retailer Ozon plans to raise about $750 million in an initial public offering (IPO) in the United States, three financial market sources told Reuters.
Sources had said this month that the company, which has already filed for an IPO, had planned to raise at least $500 million for the company's expansion.
Three of the IPO organisers have valued Ozon at between $4 billion and $12 billion, one of the sources said. A separate source confirmed the company's valuation in that range.
Ozon, which has Russian conglomerate Sistema as its biggest shareholder, declined to comment.
One financial market source said that Sberbank CIB, one of the IPO organisers, valued the company at between $4 billion and $8.5 billion. Another source said that VTB Capital had estimated Ozon's value in the $4.7 billion to $7.1 billion range, while Goldman Sachs put it at between $6 billion and $12 billion.
A financial market source said that an official announcement on the price range was expected next week, if approved by the U.S. Securities and Exchange Commission.
If that timeline is not met, the IPO might not happen this year, the source added. However, a second source said the IPO could still happen after U.S. Thanksgiving this month.