MOSCOW, (Reuters) – Russian car-sharing firm Delimobil said Tuesday that its revenue rose 89% to 3.9 Billion Rupees ($53 Million), but it still plans on listing in the stock market after having delayed an IPO plan in the United States last month.

According to advisors and bankers in the field, there are at least 10 Russian firms that could have IPOs by 2022. They would continue a list spree that began a decade ago.

Market conditions prompted Delimobil to put off its IPO plans in November. With a market valuation exceeding $900 million, the company was planning to raise $240 million through an IPO listing on New York Stock Exchange.

Delimobil stated that the company is still looking for a public listing in a joint statement to Reuters.

The adjusted gross profit in the third quarter was more than fivefold higher at 1.3 billion rubles compared to the same period in 2020. Delimobil’s adjusted earnings after interest, tax depreciation, and amortization (EBITDA), had jumped almost 140%.

Elena Bekhtina, CEO, attributed EBITDA and revenue growth to the company’s expanded car fleet and greater revenue per vehicle.

Delimobil was founded in 2015. It has over 19,000 cars and 7.4 millions registered users across 11 Russian cities. The company announced its IPO plans for the first time in 2019.

Moscow is a city that has limited parking and made parking very expensive, so car sharing has been thriving there.

($1 = 73.5780 roubles)