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Factbox-Russian companies prepare for new IPO surge By Reuters


© Reuters. FILE PHOTO. A taxi car driven by Delimobil vehicles during the COVID-19 coronavirus epidemic in Moscow, Russia on May 20, 2020. REUTERS/Maxim Shemetov

MOSCOW (Reuters) – A post-pandemic economic recovery and a stock market surge to record highs are fuelling a pick up in listings in Russia following a barren few years.

Renaissance Insurance announced its intent to flot on September 27.

Many others will soon follow the example of Sovcomflot’s initial public offering (IPO), which set off a wave of activity.

Sources have confirmed that the Saint Petersburg Exchange, Delimobil (car sharing), Softline (IT firm), Vkusvill, Vkusvill, and CIAN are all preparing IPOs.

Russia’s market volatility isn’t unaffected. GV Gold and Nordgold, both gold miners, postponed IPOs due to volatility and uncertainty in their sector.

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Below is an overview of major market debuts by Russian companies:


* In the first half of 2021, three companies staged market debuts. In March, Fix Price cut-price retailer raised nearly $2B in London and Moscow. This was the most significant Russian IPO after Western sanctions were implemented in 2014.

* Forestry group Segezha (Moscow Exchange; equivalent of $402 million), and healthcare provider EMC (NYSE:) (Moscow Exchange; $500 million) followed suit in April and July.

* Kismet Acquisition One Corp, a special purpose acquisition company (SPAC), completed a deal with video game developer Nexters to start trading Nexters Inc. shares on the Nasdaq in August. It was the first transaction involving an SPAC of Russian companies to list US shares.


* The two major listings in 2020 were online retailer Ozon (Nasdaq; $990 million) in November and Sovcomflot (Moscow Exchange; $550 million) in October. The IPO of Sovcomflot was the third major stock exchange flotation to take place in Moscow.

* Other IPOs in 2019-2020 were Samolet (Moscow Exchange; $38.2 million), Headhunter (Nasdaq; $220 million), Kismet Acquisition One Corp (Nasdaq; $250 million), Don Agro (Singapore; $3.6 million) and Gemabank (Moscow Exchange; $2.4 million).

* Headhunter’s 2019 debut was the first IPO of a Russian company in the United States since Washington began imposing sanctions on Moscow in 2014.


* In 2018, there were no Russian IPOs for the first time in a decade.

* Sixteen Russian companies carried out IPOs from 2015-2017, compared with 43 deals between 2008 and 2014.

* The biggest Russian IPO to date was a $10.7 billion flotation by oil major Rosneft in London and Moscow in 2006, followed by an $8 billion offering from state-run VTB Bank in 2007.

($1 = 72.5975 roubles)

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