Issuers News

In 3Q2007, Russia, which ensures record volumes of IPO market growth, has practically left the market, despite the sufficiently good situation, ERNST & YOUNG said in its report.

There are practically no Russian deals in the $27 billion raised by issuers of BRIC countries from July to September at global financial markets. Russian issuers are not mentioned in the top twenty major placements or among regional leaders. Andrei Kuznetsov, an analyst of TROIKA DIALOG, believes that it is linked with the fact that companies are mostly of interest to foreign investors and, considering the situation in the United States and Russia, the lull is quite justifiable. The bulk of IPO-related problems are problems with Russian investors, who are trading in that market, and not foreign investors into Russian assets. The bulk of Russian IPOs are postponed until 2008, when they will coincide with similar planned deals by other BRIC countries.