“The IPO is a undisputed way to get more expensive, but necessary funding” — comment of Karina Elesina for Kommersant
Experts believe that the new revival of the IPO should not be expected before 2019-2020, as the new US sanctions have forced many Russian companies to postpone access to the stock exchange.
Despite the fact that the Russian IPO market was born not so long ago, it has already experienced several serious crises caused by both the instability of the financial market (2007-2009), and a number of completely separate from finance reasons (the current crisis in Russia due to complications of foreign policy relations, sanctions). As well as in general for the Russian economy, the domestic IPO market is characterized by a bias towards the so called "fundamental": industries-metallurgy, oil and gas, mining companies, financial sector companies. Also in the last 10-15 years, the IPO market in the country has been significantly expanded by companies in the retail and telecommunications sector.
While the world is actively gaining growth in the IPO of high-tech companies in the field of IT, online banking, of the ten largest IPO and SPO in Russia in 2017, half were heavy industry companies,
- says Karina Elesina, consultant of "Prime Advice".
She believes that the IPO is an indisputable way to attract, though more expensive, but necessary funding, which is important in the conditions of the toughened policy of the Bank of Russia with respect to credit institutions both in terms of capital adequacy and in terms of collateral requirements.