Page 99 - RusRPTOct23

8.3 Stock market
8.3.1 Equity market dynamics
After a long lull, the IPO market is coming back to life. Following the lead of chip developer Arm, grocery delivery service Instacart successfully went public. As a result of the placement, the company was valued at $10 billion, or $30 per share.
On the first day of trading, quotes soared by 40%, but by the end of the trading week they returned to the offering price. Together with BCS analyst and author of the “Know Your Investments” telegram channel Denis Buivolov, we understand the Instacart business and its prospects.
8.3.2 Dividends dynamics
● Oil & gas
Gazprom Neft will most likely decide to pay dividends for 9 months of 2023, the company’s CEO Alexander Dyukov told reporters. "The board of directors and shareholders will make this decision. Yes, such decision is most likely to be made. Although, the first nine months should finish first, the findings must be summarized, and the board of directors must make a choice," he explained.
99 RUSSIA Country Report October 2023 www.intellinews.com