Factbox-Russian companies prepare for new IPO surge -Breaking
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© Reuters. FILEPHOTO: A taxi is driven by Delimobil vehicles in the midst of the COVID-19 coronavirus epidemic (Moscow, Russia) May 20, 2020. REUTERS/Maxim Shemetov(Reuters) – After a long period of barren years, Russia is seeing a post-pandemic recovery that has seen a record-breaking stock market rise and an increase in retail investors.
Russian car dealer Keyauto was the latest to confirm that it will float shares. This follows reports by Reuters from banking sources that EuroChem fertiliser producer EuroChem may raise $1 billion via an IPO in 2022.
Many others will follow the example of Sovcomflot’s October IPO, which set off a flurry in activity.
Russia’s market volatility isn’t unaffected. IPOs have been delayed for the convenience store chain Mercury Retail Group, Delimobil, GV Gold and Nordgold as well as gold miners GV Gold & Nordgold.
Here is a list of Russian companies’ major markets debuts:
2021
* Four companies listed in the autumn of 2021. SPB Exchange, Russia’s second-largest bourse, raised approximately $175million in November through its own IPO. Cian Real Estate Database raised $290 Million in an IPO on the New York Stock Exchange.
* IT company Softline raised $400 million in a London listing in October, shortly after Renaissance Insurance raised $250 million in Moscow.
* In the first half of 2021, three companies staged market debuts. The largest Russian IPO after Western sanctions have been lifted in 2014 was the dual listing of Fix Price, a cut-price retailer in London and Moscow. It raised nearly $2 billion.
* 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. This was the first time a Russian company and an SPAC from Russia were able to list US shares.
2019-2020
* 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 marked the third major stock exchange listing 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.
2018.
* 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.
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