Russia’s equity market is coming back to life as the economy recovers and investors start to relieve their pent up demand for exposure to high yielding growth stories.
The leading dollar denominated Russia Trading System (RTS) index was up by half in 2016 and while it was essentially flat in 2017 a string of IPOs and SPOs came to a willing market, starting with Russian children’s toy retailer Detsky Mir, the second-largest IPO in three years.
Russia's economy is growing again and that means comapnies, especially mid-cap firms catering to the domestic population, need access to capital. The IPO/SPO pipeline is now filling up and at least a half dozen more listings are expected in 2018.
Investment bank and brokerage BCS Global Markets organised its first two debut IPOs in 2017. Ben Aris, bne IntelliNews editor-in-chief sat down with Yuri Prilipov, BCS GM’ head of investment banking, and Alexey Kletenkov, the head of equity capital markets, to talk about the stock market outlook for 2018.
Ben Aris, bne IntelliNews editor-in-chief
Yuri Prilipov, BCS’s head of investment banking
Alexey Kletenkov, BCS's head of equity capital markets