Russian IPO to be pathfinder out of EM rout
Bankers this week were betting that the chaos that ripped through the emerging markets will settle over the next month, as they pushed ahead with IPOs for Russian hypermarket chain Lenta with another set to follow, writes Andrew Griffin.
Lenta is set to launch a $1bn-$1.5bn IPO early in February, with bankers hoping that the company's domestic focus will allow it to avoid investors' worries about Russian equities.
Bankers close to the Lenta deal are flexible in case sentiment around emerging markets continues to plunge, however."A lot ...