Русский
The Moscow Stock Exchange (MOEX) has seen an increase in domestic Russian corporate interest for conducting IPOs and SPOs compared to 2023; with more than 20 transactions potentially taking place in 2024, according to Vladimir Krekoten, the Managing Director of the exchange.
Krekoten was speaking at the ‘Financial Markets: New Guidelines in a Changing World’ conference in Moscow and said “We see the pipeline of transactions that investment houses have, and we understand that this is a significantly larger figure than the 13 transactions that took place in 2023. However, in my opinion, everything will depend on the market situation. And demand as well, and the interest rate, and, accordingly, how financial markets will behave in 2024. I really hope we see a figure greater than 20.”
There were nine IPOs and four SPOs on the Moscow Exchange in 2023.
Natalya Loginova, director of the department for work with issuers on the MOEX, has stated that more issuers are planning IPOs in 2024 than in 2023, with about 7-8 companies preparing to go public in the first half of the year. Several of these are Russian-based businesses that have been sold off by their original Western owners and are looking for domestic investment capital. These can be expected to attract premiums. MOEX is the largest exchange in Russia, operating trading markets in equities, bonds, derivatives, the foreign exchange market, money markets, and precious metals. The Moscow Exchange also operates Russia’s central securities depository, the National Settlement Depository (NSD), and the country’s largest clearing service provider, the National Clearing Centre. At the end of 2023, the total trading volume on MOEX platforms reached 1.3 quadrillion rubles (about US$140 billion).
