10 Jun 2024 10:35

Several companies may go public this summer; "hot season" expected in autumn - MOEX department head

ST. PETERSBURG. June 8 (Interfax) - There may be several more IPOs on the Moscow Exchange this summer, then a lull in August, followed by a "hot season" on the market starting in September, Natalya Loginova, director of the MOEX issuer relations department, told Interfax.

"I think we will have a free month this summer, August, which has always been a quiet month, because everyone needs a rest - both companies and investors. Therefore, we are unlikely to see any placements in August. But we are expecting deals to be done through August," Loginova said on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

Activation of the IPO market will begin in the fall, she said. "The autumn is expected to be active. We expect there to be a hot season that will last from September through the end of the year," Loginova said.

The MOEX could potentially conduct hundreds of IPOs a year if the market has the need, Loginova said. "MOEX will conduct any number of IPOs depending on the demand that the Russian economy generates for it. If there are 100, we will do 100; if there are 200, we will do 200. Technically, this is possible. We handle hundreds of bond issues a year, and we can supply the same number of stock issues if the market requires it," she said.

There have been seven IPOs on the MOEX since the start of 2024. IPOs were held by Delimobil , Kristall and Diasoft in February, Europlan in March, as well as MFK Zaymer and MTS Bank in April. IVA Technologies went public earlier this week.