Capital markets

Russia’s government innovators and stock exchange consider open playground for start-up stocks

March 8, 2012

Two deep-pocket, state-owned innovation flagships, the Russian Venture Company (RVC) and Rusnano, and the MICEX-RTS stock exchange have shaken hands on an uncommonly broad-based, private/public partnership designed to aid Russia’s fledgling technology innovators. In a concerted not-for-profit effort called Innovation and Investment Market (IIM), also known as IPO Board, the players are stepping forward to …

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EPAM Systems completes IPO

February 10, 2012

EPAM Systems Inc., a leading global software engineering and IT consulting firm with development centers across Central and Eastern Europe, completed its initial public offering of common stock successfully on Tuesday. The company raised $72 million by selling 6 million shares at $12 each, 67% of which were offered by selling stockholders. The company had …

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Vkontakte.ru founder confirms possible IPO

January 26, 2012

“We are considering an initial public offering to possibly take place in 2012 or 2013,” said Vkontakte.ru founder Pavel Durov in an exchange with Russian online publication Gazeta.ru (English version), following informal statements made on Tuesday at a tech conference in Munich. Although no discussions are being held currently with Mail.ru Group, Yandex or Google, a …

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Svyaznoy seeks alternatives to IPO

January 25, 2012

Russia’s second largest mobile device retailer Svyaznoy is considering selling between 20 and 30% of its shares in a private equity deal, Russian business daily Kommersant reported. Maxim Nogotkov, the company’s main shareholder, confirmed that Deutsche Bank and Raiffeisenbank received a mandate to find an investor, but declined to disclose the value of their proposed …

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Russian tech companies lost 23% on stock markets in 2011

January 11, 2012

Virtually all Russian IT and telecom companies saw their capitalization shrink on stock markets in 2011, with telematics company Russian Navigation Technologies (RNT) and Russian microelectronic device maker Sitronics losing more than 40%. AFK Sistema, a diversified conglomerate, lost as much as 33.8%. Major mobile operators VimpelCom and MTS did barely any better with a loss …

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EPAM rescheduled its IPO to Q1 2012

December 13, 2011

EPAM Systems, an offshore software developer with major R&D centers in Russia, Belarus, and Ukraine, has rescheduled its IPO to Q1 2012, Reuters reported yesterday. In June 2011, the company filed with US regulators to raise up to $100 million in an IPO of its common stock. At the time of filing, EPAM announced its …

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Russian online storage company considers IPO in Poland

October 19, 2011

ОSG Records Management, a major Russian online backup and document archive solution provider operating in Eastern Europe, could go public in early 2012, Russian business daily RBC Daily reported yesterday. OSG’s initial public offering could take place on the Warsaw stock exchange. “Poland is our second largest market after Russia,”  OSG Financial Director Mikhail Shokhorov …

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Rostelecom could hold SPO on London Stock Exchange before end 2011

October 13, 2011

Russian national telecom operator Rostelecom has formally requested the approval of the Federal Financial Markets Service (FFMS) to list 25 percent of its preferred shares on the London Stock Exchange (LSE), the company announced on Monday. Rostelecom intends to float 60.707 million Class A preferred shares in London, or about 25 percent of its outstanding …

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Painful week for Yandex on NASDAQ after market share drops and patch up work goes wrong

September 30, 2011

The share price of Russian search giant Yandex, introduced on NASDAQ in May, hit a historic low yesterday at $21.17 before closing at $22.6 – well below the company’s IPO offer price of $25 and almost two times below the peak level, $42.01, reached shortly after the stock was listed. Investor defiance peaked on Wednesday …

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