Sovcomflot opens IPO with big Russian orders

By Sam Kerr
28 Sep 2020

Sovcomflot, the Russian state-owned shipping company, has launched its IPO on the Moscow stock exchange with domestic orders already in the book.

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

The company will raise at least $500m equivalent through the sale. This figure could grow to $550m as as the deal has an overallocation option.

On Monday, Sovcomflot set a range ...

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