AGL 37.90 Increased By ▲ 0.33 (0.88%)
AIRLINK 132.00 Decreased By ▼ -0.50 (-0.38%)
BOP 5.64 No Change ▼ 0.00 (0%)
CNERGY 3.79 Increased By ▲ 0.02 (0.53%)
DCL 8.70 Decreased By ▼ -0.17 (-1.92%)
DFML 40.89 Decreased By ▼ -0.11 (-0.27%)
DGKC 88.65 Decreased By ▼ -1.51 (-1.67%)
FCCL 35.25 Increased By ▲ 0.17 (0.48%)
FFBL 66.20 Decreased By ▼ -0.30 (-0.45%)
FFL 10.37 Increased By ▲ 0.22 (2.17%)
HUBC 109.20 Increased By ▲ 2.80 (2.63%)
HUMNL 14.20 Increased By ▲ 0.80 (5.97%)
KEL 4.85 Decreased By ▼ -0.01 (-0.21%)
KOSM 7.03 Increased By ▲ 0.18 (2.63%)
MLCF 42.10 Increased By ▲ 0.30 (0.72%)
NBP 59.80 Increased By ▲ 1.22 (2.08%)
OGDC 184.93 Increased By ▲ 3.68 (2.03%)
PAEL 25.60 Decreased By ▼ -0.10 (-0.39%)
PIBTL 5.88 Increased By ▲ 0.05 (0.86%)
PPL 148.10 Decreased By ▼ -0.30 (-0.2%)
PRL 23.12 Decreased By ▼ -0.10 (-0.43%)
PTC 16.33 Increased By ▲ 1.09 (7.15%)
SEARL 68.20 Decreased By ▼ -0.59 (-0.86%)
TELE 7.26 Increased By ▲ 0.02 (0.28%)
TOMCL 35.85 Decreased By ▼ -0.15 (-0.42%)
TPLP 7.55 Increased By ▲ 0.15 (2.03%)
TREET 14.20 Decreased By ▼ -0.04 (-0.28%)
TRG 50.90 Increased By ▲ 0.05 (0.1%)
UNITY 26.38 Decreased By ▼ -0.02 (-0.08%)
WTL 1.22 Increased By ▲ 0.01 (0.83%)
BR100 9,773 Increased By 5.4 (0.06%)
BR30 29,763 Increased By 362.6 (1.23%)
KSE100 92,058 Increased By 120.4 (0.13%)
KSE30 28,708 Decreased By -35.8 (-0.12%)

MOSCOW: 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. Russian IT company Softline on Oct. 7 became the latest firm to confirm its intention to float on the London Stock Exchange in October 2021.

Several others are now expected to follow in a flurry of activity set in motion by the initial public offering (IPO) of state shipping company Sovcomflot last October.

Real estate database CIAN, car sharing company Delimobil, food retailer Vkusvill and the SPB Exchange are all preparing IPOs in Russia and abroad among others, sources have said.

Mercury Retail Group is aiming to raise over $1 billion in a Moscow IPO by year-end, three financial market sources told Reuters.

But Russia is not immune to market fluctuations. Gold miners GV Gold and Nordgold postponed IPOs this year, citing uncertainty and volatility in the sector.

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

2021

Renaissance Insurance announced its intention to float on Sept. 27.

In the first half of 2021, three companies staged market debuts. Cut-price retailer Fix Price's dual listing in London and Moscow raised almost $2 billion in March, making it the biggest Russian IPO since Western sanctions were introduced in 2014.

Forestry group Segezha (Moscow Exchange; equivalent of $402 million), and healthcare provider EMC (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 deal involving a company from Russia and a Russian SPAC to list shares in the United States.

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. Sovcomflot's IPO marked the first major stock exchange flotation in Moscow in three years.

Comments

Comments are closed.