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Tag: Russia IPOs
Megafon shares: flying high
China’s CIC and the Moscow Exchange: benign bonhomie?
The investment by China Investment Corporation in Friday’s flotation of the Moscow Exchange carries several messages for observers seeking to understand the investment approach of China’s sovereign wealth fund. Continue reading »
Moscow Exchange: real test to come
Photo: Bloomberg
Russian initial public offerings have a tendency to flop. But not so that of the Moscow Exchange, the epicenter of the country’s financial markets.
Russia’s main stock market began trading on its own platform on Friday after raising Rbs15bn ($499m) in an IPO that organizers say was oversubscribed. Positive news and perfect timing: Vladimir Putin is hosting a meeting of G20 finance ministers in Moscow today where he will be flagging the merits of the Russian capital as a budding global financial center. Continue reading »
Rail freight company stokes the boilers for Russia’s 2013 IPO season
By Ben Aris of business new europe
Kicking off the Russian IPO drive for 2013 is Russian rail freight company NefteTransService (NTS), with an announcement on Tuesday confirming its intention to list on the London Stock Exchange in the first half of this year.
Financial details have still to be settled but NTS is expected to sell a stake of around 25 per cent in a business with an estimated market value of around $2bn. Continue reading »
Megafon: repackaged for the market
The London-Mo
scow Megafon IPO is back on track, with a whopping price tag and a keenly-awaited clarification of the ownership structure.
The Russian company, which postponed its offering last month, relaunched the issue on Thursday with plans to achieve a market capitalisation of up to $14bn and raise up to $2.1bn.
And it seems the ownership structure problems, which were publicised when the IPO was delayed, have been resolved – at least to the satisfaction of the British regulators. Continue reading »
Megafon diplomacy
By Jonathan Guthrie
Russian companies remain keen on floating in London at a time when the market is shunned by other potential issuers. The downside is a tendency to cancel transactions, or to postpone them as Megafon did on Monday. Continue reading »
Russian IPOs: case by case
So MD Medical Group got away. But Promsvyazbank has not. The latest Russian London IPO has bit the dust after the shareholders decided they couldn’t get a decent price.
As the FT reported, the planned $400m offer was pulled late on Monday after a difficult month for Russian shares, which has seen the Micex index fall 5 per cent from its recent mid-September peak. Continue reading »
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Guest posts on the outlook for the year ahead
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Beyondbrics on the beach (Jul-Aug 2011)
China bubble? (June 2011)
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Hey bric spender (Aug 2010)
Guest writer predictions
2011 review
The year in numbers
The Diaspora Digest
EM diasporas, seen through their community media (Oct-Nov 2011)
Sick brics (Sep 2011)
Brics and mortar (Aug 2011)
Beyondbrics on the beach (Jul-Aug 2011)
China bubble? (June 2011)
Post-election Nigeria (June 2011)
Hey bric spender (Aug 2010)