The Russian-based software company EPAM systems is preparing to make an initial public offering. The company has already submitted its registration documents to the Securities and Exchange Commission.  

Company analysts have estimated that the IPO could raise as much as USD 100 million. This information is set out in EPAM’s prospectus.

The shareholders of EPAM Systems presently include investment fund Russia Partners II, another investment fund Russia Partners II EPAM, Da Vinci, Rainmeadow Holding, Mr. Leonid Lozner, as well as some of the company’s high-ranking executives. These parties have all agreed to sell their stakes in the company. Still, it is not yet clear exactly what fraction of total ownership will be offered. Other shareholders of EPAM, such as Russia Partners I, Landmark Business Development, Agrera Investments, Moxham Enterprises, Euroventures III Limited Partnership, CIPO Investments, and Redlodge Holdings have not publically agreed to sell off parts of their share in the IPO.

EPAM is expected to make its U.S. IPO on the NASDAQ stock exchange in September or November of 2011. The company’s management believes that the company will be valued at USD 1 billion at the time of the offering. As of today, analysts at UniCredit Securities reported that based on the prospects of the company’s expansion in a three- to four-year term, it can be valued at USD 700 million to USD 860 million. The financial firms taking part in the public offering include Barclays Capital, Renaissance Securities, and UBS Investment Bank.