Sanctions freeze Russian IPO as US says more is coming

By Sam Kerr
16 Apr 2018

The IPO of IBS IT, a Russian technology company, was postponed on Friday due to “increased market volatility” driven primarily by US-led sanctions against Russia. According to Nikki Haley, US ambassador to the UN, more might be coming.

Citigroup and Renaissance Capital had been global coordinators on the deal and SOVA Capital was a bookrunner.

The deal was launched on April 4, at an undetermined deal size. Two days after that, Steven Mnuchin, the US treasury secretary, handed down severe sanctions on several Russian oligarchs and ...

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