17 Sep 2021 17:23

Russian Econ Ministry expects 12-14 IPOs, SPOs in 2022, 10 offerings in 2023

SOCHI. Sept 17 (Interfax) - Russia's Economic Development Ministry expects 12-14 new initial and secondary public offerings on the capital market in 2022, Deputy Economic Development Ministry Ilya Torosov said during the International Banking Forum organized by the Association of Banks of Russia.

"The equities market, you know, is now at an all-time high. There were 15 [initial and secondary public] offerings in 2020 and H1 2021. The Moscow Exchange forecasts another six to eight offerings before the end of 2021. Let's recall that the previous offerings we had were in 2017 - Obuv Rossii [now OR Group] and Detsky Mir . That is, we were simply having trouble with this, and now we are seeing growth," Torosov said.

"We forecast for 2022 - we are discussing it with the market - that there will be around 12 to 14 offerings, then 10 in 2023. Obviously, everything will depend on the market situation and the key rate," he said.