Russian IT firm Basis to launch IPO in December

MOSCOW, Nov 27 (Reuters) - Russian IT company Basis said on Thursday it plans an initial public offering (IPO) on the Moscow Exchange.

The size of the offering and the price range will be disclosed before the start of bookbuilding, which is scheduled for December, the company said.

Russian state-owned telecommunication company Rostelecom holds a controlling stake in Basis through its subsidiary RTK-TSOD and plans to keep the stake, remaining involved in its development, Basis said.