A block of 4.150 million shares of stock issued by Russia’s Epam Systems IT company will be sold by the Russian Partners investment fund at USD35 per share. The sale is expected to bring Russian Partners some USD145.25 million. After the offering, Russian Partners will still own by the lowest estimate 16.8 percent of Epam (7,818,464 shares). According to less conservative estimates, the group will still retain 25.7 percent (11,968,464 shares) of the Russian software major. At the end of November, Epam’s stock on the New York Stock Exchange was traded at USD35.2. Epam’s coowner Russian Partners started selling 846,000 shares of the company’s stock in June 2013, raising some USD21.7 million. The company sold another four million shares for USD120 million. The last offering included 1.125 million shares of stock that yielded USD37.1 million.

Russian Partners owned 43.6 percent of Ep-am’s stock after the initial public offering on February 2012. The Epam Systems IT company was formed in 1993. In 2012, it conducted an IPO on the New York Stock Exchange. Trading began at USD12 per share. Arkady Dobkin, the president and board chairman of Epam, owns 12.5 percent of the company’s stock. Other owners include VTB Capital with 6.4 percent, the Da Vinci fund with 5.1 percent, as well as Leonid Lozner, Epam’s co-founder, who owns 6.2 percent. Epam’s sales revenue went up 27.3 percent since last year, reaching USD140.2 million during the third quarter of 2013. The group’s net profit rose 17 percent, going up to USD16.4 million.