Page 141 - RusRPTApr23

information security solutions developer Positive Technologies failed to attract sufficient demand from investors. The only IPO last year was that of the e-scooter-sharing service Whoosh.
In 2023 MOEX is “working with several companies, I can't say exactly how many; everything will depend on market conditions. But probably about ten companies could be expected on the market this year under favourable market conditions. As far as volumes are concerned, we expect mainly mid-capitalisation companies, i.e. volumes of a few billion rubles per transaction," Loginova said, as cited by RBC.
In terms of the industries, the IPOs are most likely to come from the "new economy" issuers – fintech companies and retailers. "Those who need capital for rapid growth," she commented.
MOEX also expects an SPO floating from state-controlled VTB Bank this year, as at the end of January the bank had approved the placement of additional ordinary shares with the nominal value of RUB302bn.
Some of the issue could go into free float, while the bank has already reportedly received RUB120bn bids from anchor investors such as Gazprombank.
Russia’s leading stock market, the Moscow Exchange (MOEX) plans to set up an analogue of the Bloomberg terminals and provide them to traders after the American version pulled out Russia within weeks of the start of the war in Ukraine a year ago.
The “Bloombergski” terminals will appear in Russia by September and cost RUB500mn ($6.6mn) to establish, according to reports on Telegram.
The new service plans to replicate the Bloomberg terminal and provide the same array of services and data as the American original for professional investors and funds.
Bloomberg rapidly pulled its staff – both local and foreign – out of Russia shortly after the war started and it was made illegal to use the word “war”, forcing correspondents to use the Kremlin’s alternative “special military operation” instead under pain of a 15-year jail sentence. The terminals, which provided traders with market information on prices and other data were also switched off, cutting Russia’s capital markets off from the global financial system.
MOEX intends to start work on the new service this month and say that it should be ready by September. The exchange promise that the Russian version will offer traders everything that the American original had.
141 RUSSIA Country Report Russia April 2023 www.intellinews.com