Central and Eastern Europe (CEE)

Ozon, the Russian e-commerce company, has filed its initial paperwork for a US listing that could be squeezed in before the end of the year.

Donald Trump and Joe Biden each present a different set of medium-term risk factors for emerging markets if they win next week’s US presidential elections. But the US Federal Reserve’s promise to keep rates lower for longer — combined with unprecedented monetary policy support from other developed market central banks — should provide a cushion that is more relevant to EM bonds than the Oval Office’s occupant. Mariam Meskin and Oliver West report.

Samolet, the Russian real estate company, completed a Rb2.9bn ($36.6m) IPO in Moscow on Thursday, the first part of a two-stage process which the company hopes will culminate in a larger listing next year.

The Turkish lira fell to record lows against the dollar this week as investors lamented the central bank’s failure to raise interest rates amid high inflation and expressed concerns over the country’s relationship with the US.

Russian airline Aeroflot completed its Rb80bn ($1.05bn) capital raise on Monday, aimed at repairing its balance sheet by repaying debt, with the Russian state increasing its stake in the carrier.

Sands Capital Management, the US investment manager, sold a 1.6% stake in Russian internet services company Mail.Ru on Monday despite a torrid evening for international stock markets.

BCS Global Markets, the investment services division of Russia’s largest independent broker, has hired Vadim Kotov as the new chief operations officer for its investment banking business.

Analysts believe optimism over the IMF disbursing funds to Ukraine this year is unfounded, as the country is struggling to fulfil the conditions it has to meet to be granted the money.

Two EM bond issuers beat hasty retreats from the primary market this week. But despite the challenges the pair faced, bankers and investors believe the market is open for borrowers looking to pick up a bit of funding ahead of what is expected to be a tortuous US election. Lewis McLellan reports.

Ülker Bisküvi Sanayi scored an impressive $650m with a five year benchmark on Wednesday, surprising some investors with an unexpected increase to the size.

Emerging market IPOs have been one of the hottest themes in EMEA equity capital markets this year and issuance is set to continue as Canal+ Polska, the Polish television network owned by French TV service Canal+, launched its IPO on Thursday.

The National Bank of Ukraine has stripped deputy governor Kateryna Rozhkova of her responsibility for banking supervision. The move follows the NBU’s official reprimand of Rozhkova and a colleague over a media interview.