Global Ports breaks rotten Russian run

23 Jun 2011

Russian port operator Global Ports lifted the mood of ECM bankers on Friday when it completed its $534m London IPO defying turbulent markets and the terrible track record of Russian listing hopefuls so far this year.

The deal came after four IPOs had been withdrawn or postponed earlier in the week and closed on Thursday as markets plummeted. Global Ports also had to contend with the unhelpful precedent of half of this year’s Russian deals being pulled. Moreover, of the five big deals from ...

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