Russia

The string of Russian deals in European equity capital markets recently has continued with a $600m sale of new shares and convertible bonds by Mail.ru Group, one of the country’s largest internet companies.

Russian brokerage BCS Global Markets has hired a senior executive from Citi to run its equities business.

Alexander Nesis, the Russian billionaire who is the largest shareholder in gold miner Polymetal, sold a 4% stake in the company on Thursday - the fifth trade in the name this year.

Sovcomflot, the state-owned Russian shipping company, has launched its listing on the Moscow stock exchange, reopening Russia’s IPO market after a long drought of deals.

Equity capital markets investors had a chance to buy Russian risk again on Tuesday evening, as Otkritie Bank sold a Rb30.4bn ($400m) stake in gold miner Polymetal.

Norilsk Nickel, the Russian metal and mining company, was set to issue a benchmark dollar bond on Thursday evening, just months after it was found responsible for a series of major diesel spills.

Equity capital markets investors welcomed the return of Russian deals on Tuesday night as two large shareholders exited Detsky Mir, the children’s retailer. Bankers expect more deals to come and are urging sellers, if possible, to come to market early to avoid running close to the US presidential election in November.

Norilsk Nickel, the Russian metal and mining company which has found itself under heightened scrutiny in recent months after a series of major oil spills, is set to raise a dollar denominated benchmark bond this week. Russian telecom major Veon was also in the market for its second rouble offering in recent months.

Oleg Mukhamedshin, deputy chief executive of Rusal, which produces 9% of the world’s aluminium, tells Mariam Meskin how the company has weathered yet another rocky period in commodity markets. And how its sustainability credentials have been affected by oil spills at its affiliate, Norilsk Nickel, in May and June.

Hong Kong-listed Summit Ascent Holdings, an investment holding company focused on operating resorts, is planning a rights issue worth HK$1.6bn ($206m).

Ivan Tavrin, the former CEO of Russian telecoms company Megafon, is seeking to raise $250m for a special purpose acquisition company (Spac) which is likely to target a merger with a Russian company.

Russian steel producer Novolipetsk Steel (NLMK) has raised a €600m syndicated loan, as experts say that the continued presence of Russians in the market during the crisis is down to the resilience they were forced to acquire after years of sanctions.