Russia

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.

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.

E-commerce listings have been been a high point of equity issuance during the second half of 2020, with the sector generating strong returns for investors. Most of the year’s listings have been completed, but banks are already working on deals from the sector for 2021.

Samolet, the Russian real estate company, has launched the first leg of a two stage listing on the Moscow stock exchange, hoping to take advantage of a surge in demand from local retail investors this year.

Aeroflot, the flag carrier of Russia, has finished the first leg of a jumbo recapitalisation backed by the Russian government, amid turmoil in the airline industry due to the Covid-19 global pandemic.

Shares in two companies, listed on Wednesday, are trading below their IPO price, with bankers blaming more volatile market conditions for the disappointing moves.

Sovcomflot, the state-owned Russian shipping company, will price its IPO at Rb105 a share, the bottom of it range.

Equity capital markets bankers are heralding the success of emerging markets IPOs set to be priced in the coming days and weeks, including the flotations of Russia’s Sovcomflot, Lithuania’s Ignitis, Saudi Arabia’s BinDawood and Kazakhstan’s Kaspi.

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

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