Page 126 - RusRPTMar23

● Oil & gas
Russian gas producer Novatek plans to adhere to its dividend policy when paying for 2022, CEO Leonid Mikhelson said on Monday at the India Energy Week. "We have a dividend policy and we will stick with it," Mikhelson said. He also said that the net profit of the company is to increase by about 50% on the year in 2022, but did not mention absolute figures.
8.3.3 ECM news
Sovcombank, the third largest private bank, has not abandoned its plan to conduct an initial public offering (IPO, initial public offering). Sergey Khotimsky, co-owner and first deputy chairman of the board of Sovcombank, spoke about this in an interview with Vedomosti (the interview will be published in the issue of March 1, 2023). The bank was one of the first to fall under blocking sanctions a year ago and is now cut off from the global capital market. “We are considering and believe that this is a very real path. Yes, we will not see an international IPO, because now Russia is cut off from the global market. And we are under sanctions in any case,” Khotimsky commented. During 2023, Khotimsky does not see an opportunity to conduct an IPO: “The price level is very low.” But starting from 2024, he does not exclude the possibility of placing shares on the Russian market. “There are a lot of uncertainties. But our task is to remain in a high degree of readiness,” the banker said.
8.4 International ratings
Moodys (USD rating) Fitch (USD rating) S&P
06/03/22 08/03/22 17/03/22
Russia - Rating agency
Ca
Ca
CC
Following sanctions on professional services introduced in April the main ratings have all suspending their ratings for Russia which has an NR rating from all three of the big agencies. The last ratings were issued in March shortly after the war started and put Russia on “near default” across the board.
126 RUSSIA Country Report March 2023
www.intellinews.com
as of May 30, 2022
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