Risk revival to spark Russian IPO comeback

08 Apr 2010

Growing risk appetite among investors is paving the way for a Russian IPO revival after two notably lean years, said bankers this week. Besides fish farmer Russian Sea, which is already marketing an RTS offering, candidates now getting deals under way include fertiliser producer Uralchem, pharmaceuticals company Protek, coal miner Kuzbass Fuel and agro-industrial firm Rusagro.

Russian Sea, which is also known as Russkoye Morye, has indicated a $6-$8 price range for its Renaissance Capital and VTB Capital led issue. At this level, it would raise $130.2m-$173.5m.

In addition, premarketing began this week for Morgan Stanley, Renaissance and UBS’s London listing for Uralcham, which could ...

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