Russia’s Pandemic Winners Drive $10 Billion Share Sale Line
- Gold miners, retailers seen leading biggest year since 2013
- Local day-trading surge boosts Moscow’s appeal as IPO venue
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Russia is on track for a blockbuster year of share sales, led by gold miners, e-commerce companies, and other firms emerging stronger from the pandemic.
Initial and secondary public offerings by Russian companies on domestic and foreign exchanges could exceed $10 billion this year, according to Alex Metherell, co-head of global banking at VTB Capital, the investment-banking arm of Russia’s second-biggest lender. That would be the strongest showing in at least eight years, Dealogic data show.