Russian share sales will increase as much as 16 percent next year, according to Sberbank CIB, amid a government push to loosen its grip on the economy.
Investors may see as much as $15 billion of equity issuance in 2013, compared with $12.9 billion this year, according to Sberbank CIB. OAO Multisistema, a water utility service company, yesterday raised 98 million rubles ($3.2 million) in an initial public offering on the Moscow Exchange, according to a statement from the bourse today.
VTB Group, Russia’s second-biggest lender, and OAO Russian Railways are among state-owned companies that may sell shares next year as Prime Minister Dmitry Medvedev aims to raise about 380 billion rubles. Russia-domiciled companies have sold about $8.2 billion of stock in 2012, the most since the $22.4 billion raised in 2007, data compiled by Bloomberg show. The Micex Index has increased 5.2 percent this year, compared with a 26 percent gain for India’s BSE Sensex Index.
“Approximately $15 billion of new issuance and secondary placements are being readied for 2013,” Sberbank Investment Research strategists led by Chris Weafer wrote in an e-mailed note today. “Exactly how much of that list is successfully placed will depend on market conditions and investors’ risk appetite.”
OAO Sberbank in September raised 159.3 billion rubles as Russia’s central bank reduced its stake in the country’s largest lender. OAO MegaFon, Russia’s second-largest mobile-phone provider, has rallied 20 percent in London since raising $1.7 billion in the biggest initial public offering by a Russian company in three years.