Sovcomflot reopens Russia’s IPO market

By Sam Kerr
15 Sep 2020

Sovcomflot, the state-owned Russian shipping company, has launched its listing on the Moscow stock exchange, reopening Russia’s IPO market after a long drought of deals.

Bank of America, Citi, JP Morgan, Sberbank and VTB Capital are global coordinators on the all-primary deal.

The company, which is wholly owned by the Russian state, will raise at least $500m through the sale of new shares from the IPO.

The proceeds ...

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