Russian IPOs on ice as listed market shrinks

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By Sam Kerr
06 Aug 2019

Ready and willing equity investors are facing another year of frustration in Russia, with the country's IPO activity set to underwhelm until 2020.

Demand for Russian ECM deals has rapidly improved this year. The market was effectively shut in 2018 after the US Treasury Department imposed sanctions on some Russian business figures — notably Oleg Deripaska, the owner of aluminium company Rusal, power utility EuroSibEnergo and both firms' holding company EN+. ...

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